- A sudden spike in the price of Livepeer.
- Livepeer (LPT) coin is currently trading at $0.4.62 with a rise of 4.30% in the 24 hours.
- The LPT coin inclined by 7.60% in the last 7 days.
A sudden jump in the price of LPT coin has been seen in 24 hours which signifies a ray of hope for LPT investors.LPT coin investors are facing a tough time in the market. Investors lost about more than 95% of their invested capital and the hope of the investors is back with this unexpected jump. By investigating the price data of the coin, it is observed that it is in a massive downtrend. The price inclined by 7.60% in the last seven days and we can say that the Livepeer coin perform well last week. It tanked -95.34% from its peak price of $99.03 in the span of 12 months. The existing market sentiments are not so good about the LPT coin. No volume is present for the LPT coin. As of now, there is no buyer interested in buying the Livepeer coin. Bears are overpowering the market.
Livepeer (LPT) Coin Technical Analysis
The price of LPT price has jumped above 50 and 200 EMA, which happen because a huge volume enters the coin recently. It is difficult to tell that coin is uptrend because it is important to sustain above 50 and 200 Days EMA. If the buyers resume pushing the price up, then we can say that the coin is in an uptrend. But right now the bears are not in the mood to give power to bulls so easily.
The current value of RSI is 74.07 points. The 14 SMA line is currently close to the median line, around 50.68Â points which indicate negative sentiment in the market. As the price is heading toward overbought territory, the market is encountering bullish sentiment currently.
The MACD indicator is entered from the negative area to the positive because of this sudden jump. The MACD line at 0.00817 and signal line at -0.014624 is below the zero line, suggesting that the MACD is in neutral territory and is giving neutral signals.
Volume Analysis: Livepeer coin’s average trading volume for the last 24 hours is $23927962. It is showing a 127.20% increase in volume in a day. The sudden jump is seen in the volume also.
Summary
Livepeer coin is struggling in the market. Based on the price action, it seems that a price break of its primary trendline support level may lead to further price drops in the upcoming days. The Livepeer coin’s price shows a pessimistic situation at the moment. Major reliable indicators like EMA, RSI, and MACD give negative signs about the coin. Due to the unfavorable performance of the coin, investors are frightened to invest in it. The coin is not showing any recovery signs right now.
Technical Levels:
- Support – The current support level is $3.487
- Resistance –The current resistance level is $7.584.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.