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The Livepeer price soared 126% in the last 24 hours to trade at $12.57 as of 9:39 p.m. EST on trading volume that skyrocketed 16K% to $4.3 billion.
Livepeer Price Still Bullish, Poised For Additional Gains
The LPT price on the daily timeframe shows that the asset had been trading within a well-defined falling channel pattern for several months, indicating a period of correction.
Toward the end of May, the Livepeer price decisively broke out of this pattern to the upside. This breakout was accompanied by a massive surge in price, propelling LPT from around $6 to over $12 in a matter of days, a nearly 100% increase.
The breakout also breached both the 50-day Simple Moving Average (SMA) at $5.37 and the 200-day SMA at $9.31, flipping these critical resistance levels into potential support.
Meanwhile, the Relative Strength Index (RSI) is currently at 87.32. This places the price of LPT deep in overbought territory, which typically suggests the asset may be due for a short-term pullback.
The Moving Average Convergence Divergence (MACD) indicator is also showing strong bullish momentum. The MACD line (blue) has crossed above the signal line (orange), further confirming the strength of the current bullish trend.
LPT/USD Chart Analysis (Tradingview)
LPT Price Prediction
According to the LPT price analysis, Livepeer appears to be entering an intense bullish phase.
The projected target based on the breakout pattern suggests a potential move to the $26.30 region, representing a 98% increase from current levels.
On the flip side, if the RSI leads to a pullback, the price of Livepeer could plunge, with the 200-day SMA offering a possible support at $9.3.
Meanwhile, investors are flocking to buy a new Solana project called Solaxy (SOLX), which has just announced that its parabolic presale will end in about 16 days, with listings shortly thereafter.
Popular YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 100X post-launch.
Solaxy Presale Closes On $45 Million Mark – Last Chance To Buy
With about 16 days remaining and over $42.6 million raised, Solaxy’s Layer 2 innovation is drawing serious attention.
Solaxy aims to enhance Solana’s capabilities, not replace them. While Solana is already fast, it’s faced congestion and scalability issues at peak usage.
The project steps in as a Layer 2 designed to bundle transactions off-chain using roll-ups, allowing for faster throughput and lower fees.
This approach promises faster, cheaper, and more reliable transactions, positioning Solaxy as a critical upgrade for Solana’s ecosystem.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Solaxy’s recent technical milestones fuel further optimism about the project’s outlook. The team launched a testnet blockchain explorer and optimised rollup handling for enhanced efficiency.
A public bridge for cross-chain testing with Ethereum and Base is set to debut soon, promising seamless asset transfers and access to Ethereum’s liquidity while preserving Solana’s speed.
The project’s native token, SOLX, powers the network’s transactions, governance, and staking.
Investors are also being drawn by Solaxy’s staking program, which offers a huge 95% annual return.
The SOLX token is currently priced at $0.00174, and investors can join the presale via the official Solaxy website using ETH, BNB, USDT, or cards.
The project has now placed a timer on its website, indicating investors have only about 16 days left to join one of the most successful presales of the year.
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