Livepeer Price Prediction for Today, June 7: LPT/USD Spikes Above $5.50 Level

Updated: 20 June 2023

Disclosure

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The Livepeer price prediction shows that LPT could set a bullish run if the market gains additional resistance levels.

Livepeer Prediction Statistics Data:

Livepeer price now – $5.42
Livepeer market cap – $136 million
Livepeer circulating supply – 28 million
Livepeer total supply – 28 million
Livepeer Coinmarketcap ranking – #165

LPT/USD Market

Key Levels:

Resistance levels: $7.00, $7.50, $8.00

Support levels: $4.00, $3.50, $3.00

Livepeer Price Prediction for Today, June 7: LPT/USD Spikes Above $5.50 Level — LPTUSD – Daily Chart

LPT/USD is trading within a positive movement at the time of writing above the 9-day and 21-day moving averages. The market is running a little retracement move toward the $5.50 level with a gain of 3.89%. However, Livepeer (LPT) is beginning to follow a bullish movement within the channel and traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.

Livepeer Price Prediction: Would LPT Price Break to the Upside?

If the bears step back into the market, the Livepeer price may slide back to $5.00 support. However, if the price keeps respecting the upward movement, traders can then expect a bullish continuation toward the resistance level of $6.00 level. As the technical indicator, Relative Strength Index (14) moves to cross above the 60-level, the next resistance levels could be located at $7.00, $7.50, and $8.00 respectively.

Looking at the price formation, any break below the 9-day and 21-day moving averages could play out for this market if the bears step into the market. However, a bearish extension could now roll the coin back to the long-term support levels at $4.00, $3.50, and $3.00. Therefore, any bearish movement could lead to a violent break below the lower boundary of the channel.

Against Bitcoin, buyers are pushing the Livepeer price to the upside showing a promising sign that could make higher highs above the upper boundary of the channel. From the upside, the nearest resistance level lies at 2400 SAT, and the higher resistance lies at 2600 SAT and above.

But, from the downside, the nearest support level is located at 1800 SAT, and if the price drops to create a new low, lower support could be found at 1500 SAT and below. Moreover, the technical indicator Relative Strength Index (14) is likely to cross above the 60-level, suggesting that the bulls are coming into focus.

Alternatives to Livepeer

According to the daily chart, the Livepeer price may begin to rise and could probably cross above the channel if the bulls increase the pressure. Therefore, any bullish movement to the upside may push the price to the potential resistance level of $8.00. So far, Wall Street Memes has raised over $5 million in the ongoing presale. This is a notable feat that even most of the best ICOs could not achieve. The project’s explosive start is a testament to the strength and interest of its one million followers and sets a strong precedent looking ahead.

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