Livepeer (LPT) Sheds 29%: Correction or Collapse Ahead?
- Livepeer has marked a loss of over 29%, trading at $9.
- Over the past seven days, LPT has surged by 65%.
The crypto market is riding the bearish wave with Bitcoin (BTC) sliding toward $103.8K. The major altcoins have lost momentum, trading in the red zone. Meanwhile, Livepeer (LPT) has taken a sharp hit, slipping by over 29.33% in the last 24 hours.
Livepeer has visited its daily high at $13.35 in the early hours. Eventually, the bears have triggered the price to retrace to its daily low of $9.39. LPT is currently trading at around the $9.40 range, with a market cap of $386 million.
Furthermore, the daily trading volume has increased by over 10.96%, reaching $2.89 billion. As per Coinglass data, the market has witnessed a $13.28 million liquidation of Livepeer.
Over the past seven days, LPT has recorded a surge of over 67%. The week began trading in the $5 range, and later the price has steadily climbed to the weekly high of $13.
Is Livepeer (LPT) Ready for a Breakout or Breakdown?
The four-hour price pattern of Livepeer has disclosed its bullish trading zone. With the positive sentiment, the asset could surpass $9.90. The bulls present might trigger the golden cross formation and push it to rally toward the $10 zone or even higher.
If the asset’s bullish projection fades, the price could shed its recent gains and fall toward the $9.42 mark. In the case where Livepeer fails to hold this level, the bears might initiate the emergence of a death cross, sending the price to the former lows.
Moreover, the Moving Average Convergence Divergence (MACD) line of Livepeer has crossed over the signal line. Hence, this crossover suggests a bullish momentum. Also, it hints at a potential buying opportunity within the market.
Livepeer’s Chaikin Money Flow is the technical indicator that evaluates the capital flow into the asset. The CMF value is found at 0.05, indicating a positive money flow and mild buying pressure. The asset may experience an upward price movement.
In addition, the asset’s daily RSI (Relative Strength Index) of 58.53 points out that the asset is in neutral to mildly bullish territory. But there is still room for upward or downward movement. The Bull Bear Power (BBP) reading of Livepeer is at 1.011, which implies moderate bullish momentum in the market.
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Livepeer (LPT) Sheds 29%: Correction or Collapse Ahead?
- Livepeer has marked a loss of over 29%, trading at $9.
- Over the past seven days, LPT has surged by 65%.
The crypto market is riding the bearish wave with Bitcoin (BTC) sliding toward $103.8K. The major altcoins have lost momentum, trading in the red zone. Meanwhile, Livepeer (LPT) has taken a sharp hit, slipping by over 29.33% in the last 24 hours.
Livepeer has visited its daily high at $13.35 in the early hours. Eventually, the bears have triggered the price to retrace to its daily low of $9.39. LPT is currently trading at around the $9.40 range, with a market cap of $386 million.
Furthermore, the daily trading volume has increased by over 10.96%, reaching $2.89 billion. As per Coinglass data, the market has witnessed a $13.28 million liquidation of Livepeer.
Over the past seven days, LPT has recorded a surge of over 67%. The week began trading in the $5 range, and later the price has steadily climbed to the weekly high of $13.
Is Livepeer (LPT) Ready for a Breakout or Breakdown?
The four-hour price pattern of Livepeer has disclosed its bullish trading zone. With the positive sentiment, the asset could surpass $9.90. The bulls present might trigger the golden cross formation and push it to rally toward the $10 zone or even higher.
If the asset’s bullish projection fades, the price could shed its recent gains and fall toward the $9.42 mark. In the case where Livepeer fails to hold this level, the bears might initiate the emergence of a death cross, sending the price to the former lows.
Moreover, the Moving Average Convergence Divergence (MACD) line of Livepeer has crossed over the signal line. Hence, this crossover suggests a bullish momentum. Also, it hints at a potential buying opportunity within the market.
Livepeer’s Chaikin Money Flow is the technical indicator that evaluates the capital flow into the asset. The CMF value is found at 0.05, indicating a positive money flow and mild buying pressure. The asset may experience an upward price movement.
In addition, the asset’s daily RSI (Relative Strength Index) of 58.53 points out that the asset is in neutral to mildly bullish territory. But there is still room for upward or downward movement. The Bull Bear Power (BBP) reading of Livepeer is at 1.011, which implies moderate bullish momentum in the market.
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