Livepeer is a decentralized PoS-based video streaming blockchain platform built on the Ethereum blockchain network. It provides a robust infrastructure for adding live videos to user projects. It incentivizes users by rewarding them with LPT tokens for creating and streaming videos. LPT is the native token of this ecosystem and its technical analysis is as follows: Past Performance On Jun 16, 2021, LPT opened at $26.41. On Jun 22, 2021, LPT closed at $25.18. Thus, in the past week, the LPT price has decreased by roughly 5%. In the last 24 hours, LPT has traded between $19.92-$30.58. https://ift.tt/3j6aApi Day-Ahead and Tomorrow Currently, LPT is trading at $25.03. The price has decreased slightly from the day’s opening price of $25.18. Thus, the market seems bearish. The MACD and signal lines are positive and have converged. Thus, the overall market momentum is bullish. Hence, we can expect the price to start rising. However, both lines are close to the zero line and may turn negative soon. Currently, the RSI indicator is at 61%. It faced rejection at 53% and rose to the current level. Hence, buying pressures are high. High buying activity will push the price upwards. Besides, the OBV indicator is upward sloping. Thus, buying volumes are much higher than selling volumes. In other words, the OBV indicator is giving further credence to the positive momentum indicated by the RSI oscillator. In short, when we look at all three oscillators together, we can say that the overall market momentum is currently bullish. However, an intermittent price pullback amidst a positive trend can be expected. We also have to wait and watch to see if this price pullback is temporary or indicative of a trend reversal. LPT Technical Analysis Currently, the price is below the Fibonacci pivot point of $25.23. It may soon rise above the first Fibonacci pivot resistance level of $29.30. Thereafter, we have to wait and watch if the price continues to rise or starts falling again. The price has tested and broken out of the 61.8% FIB retracement level of $23.99. The price may soon surpass the 50% FIB retracement level of $25.25 as well. Thus, as of now, the bulls seem strong. In that case, we can expect the price to continue rising tomorrow as well.
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