By evaluating the previous price data, we can say that Livepeer is in a downtrend currently. The price increased by 4.64% last seven days and we can say that Livepeer is underperforming right now. From its peak price of $99.03, it fell -96.06% in the last 1 year and destroyed the investors’ wealth. As we know, the current market sentiments are not good and there is no big volume or even buyers available in the current market condition. This could be a reason for the subpar performance of the coin.
The price of Livepeer presently is trading beneath 50 and 200 EMA which suggests the price is in a downward trend. If the sellers continue to push the price downwards, it could fall more in value in the upcoming week if the current support gets destroyed by the sellers.
Right now, the moving average convergence divergence is giving a bearish view. Both the MACD line and the signal line are beneath the zero line which means the price is in bear mode.
The RSI line has been moving in the oversold territory for the past few days. The 14 SMA has a value of 38.89 points and the RSI line is around 35.29. This indicates that the Livepeer market is in the oversold zone.
The current %d line is at 21.92 and the %k line is 20.96 which indicates Livepeer is in an oversold zone.
As per the Trendline, it seems that the price is respecting the Trendline. For now, it’s getting support from the trendline and can go upward to the resistance line soon. But currently, it appears to be bearish. So, the price of Livepeer can continue to fall and try to break the current support.
Livepeer trading volume of 24 hours is $5039322 with a -7.60% decrease in volume. Currently, the volume is low because of adverse market conditions and due to a lack of buyers in the market. Buyers are not confident about the market anymore.
According to the analysis, the indicators indicate a bearish signal. The price is under the control of bears, and it is expected to fall more in the near future.
Livepeer’s price presently shows a pessimistic scenario. Major reliable indicators like EMA, RSI, and MACD are giving negative signals about the Livepeer coin. Investors are also not showing any significant buying interest and this could be happening because of the ever-growing poor performance of the coin.
The analysis given above is for informational and educational purposes only. You should not be taken it as financial, investment, or any other trading advice. Investing and trading crypto coins comes with risk. Please consider your circumstances and risk profile before making any investment decisions.
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