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The Livepeer bull market that started on 20 October seems to be encountering strong resistance at the $10.74 price level. The bull market has been formidable since the uptrend started, but now it looks like the bullish momentum is weakening and the bears are taking advantage.
Livepeer Market Price Statistic:
- LPT/USD price now: $9.79
- LPT/USD market cap: $249,244,765
- LPT/USD circulating supply:24,988,446.30
- LPT/USD total supply: 25,866,594
- LPT/USD coin market ranking: #128
Key Levels
- Resistance: $11.00, $11.50, $12.00
- Support: $9.50, $9.00, $8.500
Livepeer Market Price Analysis: The Indicators’ Point of View
In yesterday’s market, bulls struggled with the bear market for quite a while and this made yesterday’s price the new support for the market. Eventually the bears won, but as the market opens for today’s trading, we noticed that the bullish momentum increased. If the selling pressure proves too difficult for the bulls, the buyers will establish a support price level at the current price again which they will use to charge back at the bear market. We can see that due to the increasing struggle between demand and supply, the Bollinger bands are now contracting as buyers seek a new support price level.
LPT/USD 4-Hour Chart Outlook
The Bollinger bands began to converge as the buying pressure matched the selling pressure. The price consolidation in the market reached its climax yesterday and then the price broke out to the seller side. Then the lower band of the indicator followed the movement of the bears’ market. However, now we can see the buyers securing the new support at $9.58 for the bullish price. And this is higher than the previous major support.
Currently, Dash 2 Trade Token Price is a Good Deal
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