Livepeer Price Prediction 2021 – Will LPT Hit $32 Soon?

Livepeer Price Prediction 2021 – Will LPT Hit $32 Soon?
  • Bullish LPT price prediction ranges from $21.75 to $31.60.
  • LPT price might also reach $32 soon.
  • LPT bearish market price prediction for 2021 is $10.70.

In Livepeer price prediction 2021, we use statistics, price patterns, RSI, and much other information about LPT to analyze the future movement of the cryptocurrency.

Livepeer, the first decentralized live video streaming network protocol. The platform aims to become a feasible blockchain-based, economically efficient alternative to centralized broadcasting solutions for all new and existing broadcaster companies. Livepeer (LPT) is an open-source platform that enables users and developers to participate in the management and the improvement of the platform freely 

According to CoinGecko, the LPT price is trading at $16.59 with a 24-hour trading volume of $16,631,472 at the time of writing. Moreover, LPT has increased by 1.95% in the last 24 hours.

However, LPT has a circulating supply of 21,164,655.33 LPT. Currently, LPT trades in cryptocurrency exchanges such as Binance, OKEx, ZBG, ZG.com, and KuCoin.

Livepeer (LPT) Price Prediction 2021

Livepeer (LPT) holds the 93rd position on CoinGecko right now. LPT price prediction 2021 is explained below with a daily time frame.

LPT/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the Swing High and Swing Low patterns. A swing low is when the price makes a low and is immediately followed by two consecutive higher lows. Similarly, a swing high is when the price makes a high and is followed by two consecutive lower highs.  

In the daily time frame chart, if the price of the LPT breaks the retest level of $15.10, it will reach the target of $28.20. Or else, the price of LPT falls to the support level of $10.62. So, the trend of the LPT is based on the breakout.

Livepeer (LPT) Support and Resistance Level

The below chart shows the support and resistance level of LPT.

LPT/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support levels of LPT.

  • Resistance Level 1 – $21.75
  • Resistance Level 2- $31.60
  • Support Level 1 – $15.20
  • Support Level 2 – $10.70

The charts show that LPT has performed a bullish trend over the past month. If this trend continues, LPT might run along with the bulls overtaking its resistance level at $31.60.

Accordingly, if the investors turn against the crypto, the price of the LPT might plummet to almost $10.70, a bearish signal.

Livepeer (LPT) Average Directional Index (ADX)

Now let’s see the average directional index (ADX) of LPT. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and includes the ADX line.

The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators.

LPT/USDT ADX(Source: TradingView)

The above chart shows the ADX of LPT stays above the range of 23, so it indicates a weak trend.

Conclusion

The LPT is one of the cryptos that keeps its ground against the bearish market. Hence more, our long-term LPT price prediction for 2021 is bullish. It has many possibilities of overtaking its current all-time-high (ATH) of $45.44 this year. More so, this will only happen if it breaks many past psychological resistances.

Henceforth, with the ongoing developments and upgrades within the LPT ecosystem, it could experience a great future ahead in 2021. It may reach $31.60 soon and it might even reach high heights, however reaching $32, if investors have decided that LPT is a good investment in 2021.

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