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Ever since the Livepeer market tested the support at the $10.00 mark, it appears that upside forces have been triggered. This led to the market making higher lows since then, indicating that the market has been progressing ever since.
Key Price Levels:
Resistance: $17.00, $19.00, and $21.00
Support: $15.00, $13.00, and $11.00
Bullish Volatility Propels the Livepeer (LPT) Market Upwards
The ongoing session in the LPT market has welcomed significant volatility. Today, the token recorded an 8.41% price increase, placing the market at a considerable distance above the middle limit of the Bollinger Bands.
At this point, price action in this market is at the 50 level of the Fibonacci Retracement tool. Meanwhile, the Relative Strength Index (RSI) lines can be seen maintaining a downward trend towards the 80 level of the indicator. More careful observations of this market seem necessary at this point.
LPT Bulls Are Fighting to Stay in Control
The Livepeer 4-hour market has revealed that price movement may remain under the control of upside forces. However, here, trading activities are occurring below the middle limit of the Bollinger Bands. At the same time, the 50 level of the Bollinger Bands lies above price activity.
The last price candle on this chart has appeared green, suggesting that a new session has started with upside forces still in the lead. Meanwhile, the RSI indicator lines are now rising out of the oversold region. Consequently, this suggests that price action may soon cross the middle limit of the Bollinger Bands. Traders may want to continue using crypto signals targeting the $17.00 mark.
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