- Livepeer’s crypto price stays overall neutral after getting ups and downs down the chart during its intraday session
- Since yesterday, LPT’s CMP has decremented by 11.2% and has given a negative performance change concerning last week
- Livepeer’s current rally may lead itself towards a dangerous stagnant trend in the long run
The Livepeer crypto price continues its uncertain momentum on the chart and hasn’t recovered from December’s price reduction completely. The coin’s CMP currently stays a bit close to its 24-hour high price mark. The market cap stayed neutral during the intraday session. The 24-hour trading volume went down by 39.54%. The volume to market cap stands at 0.0374. The LPT/ETH pair benefitted from an intraday gain of 0.3%. The same happened with the LPT/BTC pair after gaining a mere 0.8% during the same time.
The Livepeer hourly chart displays the current condition of the coin in the market. LPT rallies with an oscillatory motion on the chart due to its volatility. It has given multiple breakouts, but they all went downhill after breakdowns followed. The formation of the scallop pattern boosted the price to achieve a breakout to recover from December’s loss, but that also went in vain as the coin crashed shortly after the climb. Now, the possibility of a cup and handle pattern after some hours may increase LPT demand in the market. The 50, 100 and 200 MA lines continue to rally above the current market price candlesticks.
LPT’s price to stay neutral during the first couple of weeks in 2022
LPT’s daily chart shows the acquisition of a neutral trend. The trend lines form a symmetrical triangle on the daily chart to commemorate the ongoing neutral trend the LPT fell for. The MACD line runs below the zero level and above the signal line. However, it has flat-lined below the neutral level. The RSI level resides in the neutral zone, with its SMA rallying neutral with no climb.
Conclusion- LPT may continue its ongoing neutral trend in the market while carrying volatility. However, the volatility may benefit its day traders. Nonetheless, one should invest in LPT only after analysing and due diligence.
Resistance- $61.743
Support- $31.429
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only. They do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.