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In the Livepeer market for the whole of October, the support and resistance moved horizontally at high proximity. This formed a narrow channel from which the price of the market could not break out. However, in today’s market, the price may be attempting to break out from the price channel so that the space between the support and resistance can widen again.
Livepeer Market Price Statistic:
- LPT/USD price now: $9.555
- LPT/USD market cap: $
- LPT/USD circulating supply:
- LPT/USD total supply:
- LPT/USD coin market ranking: #
Key Levels
- Resistance: $10.000, $10.500, $11.000
- Support: $9.000, $8.500, $8.000
Livepeer Market Price Analysis: The Indicators’ Point of View
LPT became a bit stable in early October; we see from the Bollinger indicator how the upper and lower band moves together horizontally forming a horizontal channel. The price later crossed up above the indicator’s moving average on the 25th/26th of October. From this point, the bulls gather momentum and push the price upward. The upper band of the Bollinger indicator is responding to today’s bullish market as the upper band, in response to the price action, is moving upward.
LPT/USD 4-Hour Chart Outlook
From this outlook, we see that it is quite a bit of a struggle between demand and supply. The market generally has been undecided about the price direction for the past 3 to 4 weeks. The first session was initially taken by the bears, but eventually, it ended favouring the bulls. The bears are now dominating the third session. The RSI line is now retracing a lower level of 54.56% due to the current market behavior.
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