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The Livepeer token has been registering notable gains since two days ago. Buyers in this market have managed to extend that bullish momentum. The ongoing session has recorded a price growth of 13.49%, which is sufficient to make the coin the second-best-performing token out there at the moment.
LPT Market Statistics
Current Price: $8.882
Market Capitalization: $362.87M
Circulating Supply: 43.84M
Total Supply: 43.84M
CoinMarketCap Rank: 148
Key Price Levels
Resistance: $10.00, $11.50, $13.00
Support: $8.00, $6.00, $5.00
Livepeer Upside Movement Looks Healthy
Upside forces have kept the recent bullish correction on the LPT daily chart in motion. As a result, notable gains have been recorded, and the upward trend continues. The last price candle on this chart places the token trading beyond the upper limit of the Bollinger Bands (BB) indicator.
Likewise, there appears to be a steep upward movement in the lines of the Stochastic Relative Strength Index (SRSI) indicator, as they push towards the overbought zone. The noticeable distance between the leading and lagging lines of the SRSI indicator further suggests that volatility remains on the high side.
LPT Faces Rejection Near the $9.00 Mark
The Livepeer market on the 4-hour chart reveals that price action is encountering gridlock ahead. Although price action stands above the upper limit of the BB indicator here as well, the last price candle of the ongoing session has taken the shape of a hammer. This suggests that downward forces may already be attempting to resist the climb.
Nevertheless, the candle remains green, still reinforcing the impression that upside forces are dominant. At the same time, the SRSI lines have just delivered an upward crossover in the overbought region. Consequently, bulls may still push for more gains toward the $9.50 price level. Even so, this market may stage a pullback toward the $8.00 mark, as the resistance ceiling seems well fortified.
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