Livepeer Price Analysis: The LPT Token Marked $100 As Its New All-Time High

  • The LPT token’s daily RSI value has reached the overbought zone.
  • The LPT/BTC pair was trading at 0.001032 BTC with a gain of 11.03%
  • The 24hr volume for the LPT token is $1.62 Billion, indicating a 202% hike

The LPT token chart provided an excellent long opportunity for crypto traders when its price breached the $34 neckline of the Cup and handle pattern in the daily time frame chart. Later the price gave a proper retest to this new support level and initiated a remarkable rally in this token. As for now, the price has displayed a 93% gain from the breakout point.

Concerning the EMA’s, the LPT token price is trading significantly above the crucial EMA’s of 20, 50, 100, and 200, indicating a bullish trend alignment. 

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The RSI (BULLISH) current value is 82, indicating a bullish sentiment within the LPT token. However, this also suggests an overbought signal for the token buyers.

The LPT Token Chart In The 4hr Time Frame

On November 9th. The LPT token price was rejected from the $100 mark with a strong evening star candle, triggering a retracement phase in this token. The coin price is currently trading at $66.85, with an intraday loss of $6.62. According to the Fibonacci retracement level, the crypto traders can expect the nearest support would be at $58.5( FIB level 0.5), followed by $48 (FIB level 0.618),

The MACD indicator shows both the MACD signal lines moving high above the neutral zone (0.00), indicating the strong bullish momentum in the LPT token. 

Conclusion:  From a technical perspective, the overall trend of the LPT token is extremely bullish. However, as mentioned above, the chart might display a minor-to-moderate retracement phase in this rally. Therefore, the crypto traders can mark the important support level in this chart that can help the price to continue to its uptrend.

Support: $58.35

Resistance: $80

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Sahil Suresh Mahadik
Sahil focuses on Indian markets. However, as a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies. Sahil believes the crypto universe is a growing market with a plethora of hidden potential, and he wants to grow with it. Some other hobbies he has are reading books, playing Table Tennis, swimming, etc.

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