Today, Livepeer $LPT has shown a gain of over 13% in the last 24 hours, demonstrating a confident recovery after a local drop to $5.76. The current price of $6.62 has broken above the MA(7) and is approaching the MA(25) at $6.67, opening the potential for further growth towards $7.10.
A strong green volume indicates high buyer interest, and the W-shaped reversal pattern on the daily chart provides hope for continued upward movement. However, investors should exercise caution as the MA(25) could act as resistance, and a decline in volume may lead to a short-term pullback.
Forecast:
In the short term (1–3 days), a correction towards the $6.20–$6.40 zone (MA(7) support) is possible, followed by a continuation of the upward move towards $7.50–$8.00 if high volume persists.
Risks:
If the price closes below $6.00, this may lead to a drop towards the $5.60–$5.80 zone.
Recommendations:
For buyers: consider entries during pullbacks, targeting $7.00+.
For sellers: consider taking profits near the $7.10–$7.30 resistance zone.
The trend remains bullish, but due to high volatility, it is important to closely monitor key levels and trading volumes.