🚀 Attention, traders! $LPT /USDT is on fire and gives us an interesting reading for this Friday.
Watch out for manipulation! 🧐 The price has had a brutal rally from $5.150 to $14.357, over a 100% increase! But be careful, these types of vertical movements often come with traps.
Right now, we see the price dancing around $11.934. The 7-period moving average (MA7) at $12.565 and the 25-period moving average (MA25) at $11.683 indicate that we are in a possible consolidation or definition zone. If LPT manages to break and consolidate above the MA7, we could look to seek those highs again. However, if it loses the MA25, the key support would be at MA99 ($7.685), a level to take into serious consideration if market manipulation decides to play its tricks and seek liquidity downward!
The volume has been robust, which is a good sign for the bullish trend, but we must always be alert to divergences that may indicate a change in market sentiment. Patience and good risk management will be key here. Don't let FOMO take over, but also don't stay out if the movement is confirmed!
