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The Livepeer market has been able to maintain an upward path since early May. Although the market has faced rejections along the way, upside forces have quickly overcome such obstacles. Today’s trading activity has recorded an additional price increase of roughly 5%.
Key Price Levels:
Resistance: $22.00, $25.00, and $30.00
Support: $20.00, $15.00, and $10.00
Price Action in the Livepeer Market Continues to Trend Upwards
Livepeer’s price action has been trending upwards since the market found support at the $12.00 mark on May 1st. The medium-term uptrend has seen the token’s price break multiple resistance levels while overcoming several rejections.
Price action in this market has continued above the middle limit of the Bollinger Bands. The last price candle on this chart still shows that bulls maintain a strong influence on the market at this point. Meanwhile, the Stochastic Relative Strength Index (RSI) indicator lines maintain a smooth and non-exaggerated upward movement above the 70 mark. Consequently, this affirms that bulls are holding sway firmly in this market.
LPT Eyes the $24.00 Mark
Price activity in the Livepeer market has continued upward and now seems to be targeting the $24.00 price level. Technically, the market seems to hold enough momentum to achieve this feat, although it is still a considerable distance from hitting this price mark. Previous sessions in this market have recorded minimal downward price corrections.
However, the ongoing session has brought an overwhelming recovery to the market. Trading activity continues to hover around the uppermost limit of the Bollinger Bands. In addition, the SRSI lines are now delivering a bullish crossover above the 50 level of the indicator. This further points out that crypto signals targeting the $24.00 mark are still usable in this market, as the market seems prepared to hit that mark.
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