In times when Bitcoin and other large cryptos are confronted with strong upward pressure, live pear prices have started to rise. With an increase in trading volume of 2000%, the LPT price led a strong increase in levels of approximately $ 5 to mark local highlights with around $ 13.48. The increase in the value is due to the mention of the popular South Korean exhibition, Upbit, which has increased its trade volume and market barking.
Now that Token has activated a strong revival and the technical means over the top threshold is increasing, is the LPT price on the way to a correction?
The historical price card suggests that the price has returned from the lowest support around $ 3.3. In the times when the price has formed a successive higher and lower low, the offer seems to have come a disguised blessing. The rally almost reached the crucial resistance zone between $ 11.56 and $ 12.78, but failed to keep it to a small correction phase.
As can be seen in the graph above, these levels have rather the trendomage zone, and that is why they have to be broken down or down to turn the current trend. The price rose above the resistance zone during the first quarter of 2024 and remained consolidated all year round because it offered a strong base, which changed to a resistance that has continued so far. That is why getting up above this zone is extremely important for the LPT price to reach the neckline of the V-shaped recovery above $ 21; Otherwise it can continue to consolidate token under the range.
Technically, the Bullish Dominance on the Rally has just started because the weekly MacD Bullish has become after he has stayed Bearish. By the way, the weekly RSI has risen above the falling trend line, pointing to the start of the bullish trend. It is therefore assumed that the Livepeer (LPT) price maintains a consistent rising trend by resisting the Bearish and ultimately up above the resistance zone.
On the other hand, token has drawn considerably volume with regular intervals, which suggests that the investors remain vigilant about the token. That is why an increase above the range can attract a new liquidity that can lead the LPT price close to the ATH.