Livepeer is a decentralized 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 prime governance token of this PoS (Proof-of-Stake) based blockchain ecosystem and its technical analysis is as follows: Past Performance On May 31, 2021, LPT opened at $23.44. On Jun 6, 2021, LPT closed at $25.58. Thus, in the past week, the LPT price has increased by roughly 9%. In the last 24 hours, LPT has traded between $25.48-$26.77. https://ift.tt/3gj6QOn Day-Ahead and Tomorrow Currently, LPT is trading at $26.42. The price has increased from the day’s opening price of $25.59. Thus, the market seems bullish. The MACD and signal lines are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect a price pullback. Currently, the RSI indicator is at 48%. It faced rejection at 51% and fell to the current level. Thus, selling pressures are high. The RSI oscillator is, thus, giving further credence to the price pullback indicated by the MACD oscillator. Besides, the OBV indicator has started falling steadily. Thus, selling volumes are higher than buying volumes. High selling activity will exert downward pressure on the LPT price. In short, all three oscillators have given negative signals. LPT Technical Analysis Currently, the price is below the first Fibonacci pivot resistance level of $26.43. The price may soon fall below the Fibonacci pivot point of $25.94. Thereafter, if bears gain strength, the price may fall below the first support level of $25.45 as well. The price has tested and fallen below the 23.6% FIB retracement level of $26.46. It may soon fall below the 38.2% FIB retracement level of $26.28 as well. If the price retests and breaks out of these levels in some time, then the price uptrend is likely to continue today and tomorrow.
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