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The Livepeer Price has surged by 37% in the last 24 hours to trade at $18.95 as of 7:33 p.m. EST on trading volume that jumped 7% to $604 million.
This surge rides on the back of the launch of OpenAI’s Sora, an AI model with the ability to convert text into video, underscoring the influence of cutting-edge technology on the crypto market.
Livepeer, an open live video streaming protocol, supports Sora’s mission of providing affordable video creation solutions for developers and content creators.
Today @OpenAI revealed their research progress on the Sora generative video AI model, with some impressive demonstrations.
This helps show the world how powerful generative video can be, and progress on open models is moving faster than ever. But generating these videos requires… https://t.co/srd1TkV3bY
— Livepeer (@Livepeer) February 15, 2024
The Livepeer team announced their plans to incorporate Sora’s capabilities into their decentralized video platform soon, helping Livepeer (LPT) surge 154% over the past week.
Livepeer Price Breaks From Consolidation In An Unprecedented Surge
LPTUSDT Analysis by Tradingview
The Livepeer price shows a breakout beyond the consolidation phase, which extended throughout 2023 and was marked by a fierce battle between bulls and bears vying for control.
Despite the year-long prolonged struggle, the robust support zone at $7.53 has empowered the bulls to fly the price in a sharp surge beyond expectations.
This breakout has successfully breached a crucial resistance level at $13.95, demonstrating the strength of the bulls.
A subsequent retest of this level has also presented the bullish investors with a launchpad to fly the price even higher, reaching the $21.03 mark. However, at this point, the bulls encountered resistance, leading to a decline in the price.
Livepeer Price Indicators: Bulls Target $25 Mark
The current price trend indicates positive short-to-medium-term momentum as it trades above the 50-day and 200-day Simple Moving Average (SMA). Besides that, the moving average cross at $7.75 further affirms the bullish sentiment for the Livepeer price
The Relative Strength Index (RSI), a momentum oscillator, reveals a gradual uptrend rebounding on the midline level of 50 and trading at 82 in the overbought region, indicating intense buying pressure.
LPTUDT RSI Analysis by Tradingview
The MACD is also bullish as the blue trend line crosses the orange signal line above the midline level to 2.75. Further, the histogram indicates a positive move as the bars appear above the midline level.
LPT price is generally bullish bias as the bulls aim for a potential climb towards the $25 mark in the upcoming days. However, if bears continue the corrective phase, there is a risk of a sell-off towards the protective support zone at $13.95.
Meanwhile, investors seeking projects with significant growth potential may consider the new presale of Scotty the AI, an innovative AI-powered cryptocurrency that has surged remarkably in its presale.
Scotty the AI Revolutionizing Meme Coins and Crypto with AI Integration
Scotty the AI aims to establish itself by providing various layers of AI innovation to transform perceptions of security and fraud detection within the blockchain industry.
It already has a suite of AI-powered products designed to help the community, providing real utility to the meme coin.
Can Scotty the AI (SCOTTY) Help Crypto-Based AI Technology Break into the Mainstream? Investors Think Sohttps://t.co/wPlPeXEyGI
— Scotty The Ai (@ScottyThe_Ai) February 18, 2024
At the forefront is Scotty Swap, a platform facilitating seamless and rapid token exchanges. Complementing this is ScottyChat, a chatbot providing users with deep insights and analysis into the crypto markets, allowing them to spot trends before they emerge.
SCOTTY Presale Blasts Past $460,000, Buy Now
The Scotty AI presale has raised over $460,000 so far, closing in on its target of $542,839. Investors have about 11 days to buy $SCOTTY tokens at $0.0053 per token before a price increase.
$SCOTTY Presale stage 4 on the move and ending soon.
👉join presale herehttps://t.co/zRmy4g8hfWThis Is Why AI-Focused Crypto Project Scotty The AI (SCOTTY) Could Leave A Huge Mark On The Industryhttps://t.co/aJM1zXUjgP
— Scotty The Ai (@ScottyThe_Ai) February 16, 2024
The platform also offers staking options where investors can stake $SCOTTY tokens for an estimated 274% annual percentage yield (APY). However, this percentage value will keep reducing as staking continues. To benefit, you should buy and stake your tokens early.
Crypto analyst and YouTuber Jacob Bury is impressed by Scotty the AI’s unique combination of meme coin and AI power and says the token has the potential to 10x on launch.
You can join the presale to buy SCOTTY tokens directly from Scotty the AI official website, where you can swap your ETH or USDT for SCOTTY. You can also use a bank card.
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