The price of the currency #Livepeer increased by 4%, stabilizing at $5.
The trading volume of $LPT
a massive daily increase of 462%.
The cryptocurrency market is experiencing volatility, with a continued neutral stance in transactions between assets. The largest assets, such as Bitcoin (BTC) and Ethereum (ETH), are trading at $107.4 thousand and $2.4 thousand respectively. With alternative coins in both red and green, Livepeer ($LPT ) is trying to recover, having jumped more than 4.89% in the past 24 hours.
It is worth noting that $LPT started its daily trading on a decline, recording a low of $5.51. A sudden shift in momentum pushed buyers to drive the price to a high of approximately $6.57. Moreover, the ongoing upward correction may help maintain the price increase.
Meanwhile, according to CoinMarketCap data, Livepeer is currently trading at $5.80, with a market capitalization of $242 million. Additionally, the daily trading volume of #LPT has increased by over 462%, reaching $158 million.
Where is Livepeer heading?
Assuming the market enters a bullish trend, the price of the currency may rise and test the nearby resistance level at $5.90. With strong bullish momentum, Livepeer may trigger the appearance of the golden crossover, likely starting a wave of increases, with the price heading towards its upper range beyond the $6 threshold.
On the downside, if bullish sentiment fades and bears take control, the price may drop to its initial support level at $5.74. Failure to maintain this level could lead to a deadly crossover for the bears, pushing the price below its previous lows of $5.67.
The MACD line (Moving Average Convergence Divergence) for the Livepeer indicator is above the zero line, indicating bullish momentum. However, if the signal line is below the zero line, the bullish trend is still in formation and may be in an early stage. Additionally, the Chaikin Money Flow (CMF) indicator evaluates the capital flow to the asset; its current value is -0.15, indicating moderate selling pressure in the market, with money flowing out of the asset.
Furthermore, the daily Relative Strength Index (RSI) of the asset is at 49.50, which means the asset is in a neutral zone, neither overbought nor oversold. The value of the Bull Bear Power (BBP) indicator for LPT, which is 0.034, indicates slight bullish pressure in the market, with fluctuating momentum. #LPTUSDT #NODEBinanceTGE #USCorePCEMay