Livepeer Price Prediction for Today, May 31 – LPT Technical Analysis

On May 31, 2024

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The Livepeer price prediction kicked off its rally with a break above the key resistance level of $22.0 as the coin heads to the north.

Livepeer (LPT) Coin Gains Momentum: Upcoming Announcement for Web3 Social Media Platform

Livepeer (LPT) is experiencing another boom cycle with a steep vertical price surge. LPT climbed to $23.11 in a single price move from its yearly peak of over $25. The token may see rapid inflows and outflows due to limited arbitrage opportunities. The disparity in LPT pairings could be a factor contributing to the heightened trading activity.

Livepeer Prediction Statistics Data:

Livepeer price now – $22.98
Livepeer market cap – $748.9 million
Livepeer circulating supply – 32.5 million
Livepeer total supply – 32.5 million
Livepeer Coinmarketcap ranking – #108

LPT/USD Long-term Trend: Ranging (Daily Chart)

Key Levels:

Resistance levels: $33, $35, $37

Support levels: $12, $10, $9

Livepeer Price Prediction for Today, May 31 – LPT Technical Analysis

LPTUSD – Daily Chart

LPT/USD is experiencing significant boosts that push the coin above the 9-day and 21-day moving averages. The current performance of the coin indicates the beginning of an upward movement within the channel. Meanwhile, it’s just a matter of time for this coin to reach another resistance level of $25 level if it begins to follow the positive direction.

Livepeer Price Prediction: What to Expect from Livepeer

The Livepeer price is hovering around $22.98, touching the daily high of $23.1. The ongoing trend may move a little bit higher in the next positive direction, and the coin could reach the nearest resistance level. However, if the buyers put more effort, LPT/USD could hit additional resistance levels at $33, $35, and $37 respectively.

Nonetheless, if the coin slides below the 9-day and 21-day moving averages, a bearish drop may roll the market back to the downside and the initial support level of $20.8 could be reached. Moreover, any further bearish movement could hit the critical supports at $12, $10, and $9. Moreover, the 9-day MA is hovering above the 21-day MA, and this could supply more bullish signals to the market.

LPT/BTC May Shoot to the North

Against Bitcoin, the Livepeer is trading above the 9-day and 21-day moving averages as the price hovers at 3398 SAT. The bulls are dominating the market, aiming to push the coin toward the north. However, the daily chart reveals that the buyers may continue to dominate the market if the market price rises above 5000 SAT.

On that note, the potential resistance level could be located at 5200 SAT and above. Meanwhile, any bearish movement may cancel the bullish pattern which could attract new sellers to the market by bringing the LPT/USD below the lower boundary of the channel to hit the support level of 1600 SAT and below.

Nonetheless, @decilizer informed his followers on X (formerly Twitter) that $LPT is emerging as a strong contender in the crypto market. With solid support confirmed at $20, we’re targeting a rise to $27.2. Hopefully, $BTC will bolster this trend. The recent rally has already yielded a remarkable 240% increase in profit.

Today, the $LPT is emerging as a strong contender in the crypto market. With confirmed support at $20, we are aiming for a target of $27.2. Hopefully, $BTC will support this trend.
There’s been a 240% rise in profit in the recent rally. pic.twitter.com/r2oC5ohDZI
— Decilizer (@decilizer) May 31, 2024

Livepeer Alternatives

According to the daily chart, the Livepeer price might begin to rise and potentially break above the channel if bullish pressure increases. Recently, the price has been oscillating between the 9-day and 21-day moving averages, which could lead to crossing the upper boundary of the channel. Meanwhile, the multi-chain token Dogeverse is gearing up for one of the biggest meme coin launches of the year, having raised over $15 million in a highly successful presale. This project has captured significant attention from meme coin traders and crypto analysts, many of whom predict that the $DOGEVERSE token could achieve a 10x gain or more in June.

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