Livepeer (LPT) Upside Retracement Faces Rejection Above Key Levels

Price activity in the Livepeer token daily market has seen some upswing in bullish momentum. However, this has been moderate but progressive. Meanwhile, the ongoing session has faced notable contractions above important technical landmarks. Let’s see how things may evolve in subsequent sessions.

LPT’s Statistics:

Livepeer Price: $15.78

Livepeer Market Capitalization: $567.69M

LPT Circulating Supply: 36.21M

LPT Total Supply: 36.21M

Livepeer CoinMarketCap Rank: 142

Key Price Levels:

Resistance: $16, $17, $18

Support: $15, $14, $13

LPT Bulls Hits a Strong Wall

The ongoing session has brought a considerable price increase to the Livepeer token daily market. This has seen the coin recording a price increase of roughly 10%, while headwinds have caused some to be lost. Nevertheless, this coin trades above an important technical landmark that suggests that headwinds may be shaken off.

The price candle corresponding to the ongoing session stays green despite revealing that downward forces are currently active. It also stands above all the Moving Average (MA) lines on the chart. Meanwhile, the Stochastic Relative Strength Index (RSI) lines are already at the peak of the overbought region, and the lines of the indicator are dragging sideways. This hints that upside forces are challenged at this point.

 

Livepeer Market Retreats Below the $16 Mark

Price movement in the LPT 4-hour market reveals that downward forces are threatening. The market saw strong price movement in the previous session. This brought the market above the $16 mark. However, it appears that headwinds have besieged this price level and, as a result, have forced a retreat on bulls.

Albeit, price action stays above all the MA lines and, as such, seems to hint that this might stay as just an intermittent retracement. Additionally, the Stochastic RSI lines are keeping to a strong upward trajectory. The lines of this indicator don’t reflect the downward retracement on the price chart. Therefore, traders can still retain the use of crypto signals targeting the $17 mark.

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