Livepeer (LPT) Seems Ready to Retest the $8.00 Mark

The behavior of price action on the Livepeer daily market suggests that the price of this token may rise towards the $8.00 mark. As of today, there has been a price increase of 4.37%, and price action seems to have a chance of rising further towards higher marks.

Livepeer Statistics:
LPT Value Now: $7.54
LPT Market Cap: $216,284,993
Livepeer Circulating Supply: 28,859,447
Livepeer Total Supply: 28,859,447
LPT CoinMarketCap Ranking: 124

Major Price Levels:
Top: $7.54, $8.00, and $8.50
Base: $7.04, $6.54, and $6.04

LPT Price Resumes Its Upside Path

Price action in the LPTUSDT daily market seems to have obtained support above the $7.00 mark. This can be perceived as price action has remained above this level since it last ramped through it three trading sessions ago. The ongoing session has rebounded upwards, placing this token above the $7.50 threshold.

Meanwhile, the lines of the Moving Average Convergence Divergence MACD indicator remain above the 0.00 mark at 0.59 and 0.55. Carefully observing the lines of this indicator shows that the terminal of the leading one seems more tilted to the upside. Consequently, this aligns with the inference that prices may proceed towards higher marks in this market.

Livepeer Bulls Strengthen Upside Hopes Towards the $8.00 Price Level

In the 4-hour Livepeer market, upside hopes continue to strengthen. Even so, there has been a minimal increase in price in the daily market, as the LPT token now trades at $7.56 from the $7.54 level. Additionally, a new trading session has begun above the 9- and 21-day SMA lines.

Furthermore, while the MACD lines are still above the equilibrium level, it could be seen that another bullish crossover has just occurred. Therefore, it could be assumed that buyers are set to press hard against the resistance at $8.00 once more.

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