Livepeer Token is currently up 27.3% from the crypto crash where Bitcoin crossed the 200-week moving average on the 15th June 2022. At the time of writing this, Livepeer Token is trading within an ascending triangle (a bullish continuation pattern).

Residing within the ascending triangle pattern, Livepeer Token is also forming a broadening horizontal channel as we consolidate around the $8.20 price levels.

July could offer bullish price action for Livepeer Token if we see positive price momentum for Bitcoin. In the bear markets of 2020 Livepeer Token traded as low as $0.70. Is the downtrend over?

Cryptoassets are a highly volatile unregulated investment product.

Livepeer Token Price Prediction 2022

Livepeer Token has now corrected roughly 94% from its euphoric parabolic rally on the 9th of November 2021. Current price levels could offer strong investment opportunities for new potential holders.

Despite the macro down-trend and bearish sentiments in the market, I think the formation of this ascending triangle could provide a strong bounce to the upside over the next few weeks.

Livepeer Token has just etched its second swing-low on the charts within the ascending triangle. If we can hold this key support level we should see Livepeer Token forge another swing-high up to around $10.76.

This could potentially offer investors returns of around 30% over the next few weeks.

The reason I have this technical target in mind is that $10.76 is acting as a key resistance level. This is because on the 21st of May and 21st July of 2021 Livepeer Token had capitulated and found support exactly at this level before.

$10.76 in my opinion is a pragmatic target and an area where we would likely see a rejection at resistance and continuation to the downside. There has also not yet been a sustained relief rally out of this extreme fear phase, which I am anticipating.

Cryptocurrency markets are volatile and it is still possible to see continuation to the downside. However, I do think the risk is now minimized and things should start to look better over the coming months.

I would expect Livepeer Token to chop around the $10-15 price levels for the majority of late 2022 and early 2023.

What is Livepeer Token?

Livepeer Token is the very first live streaming network protocol that is completely decentralized. The protocol strives to become the most feasible blockchain-based and environmentally efficient alternative to legacy centralized broadcasting solutions. This is targeted towards both new and existing broadcasting businesses.

LPT is required to utilize the work of transcoding and deploying video on the network whilst also creating incentive for peers. This ensures that the network is cost-effective and secure.

The team behind Livepeer Token have identified the video and broadcasting sector as a booming industry. They understand that there is long-term growth potential, which makes sense for them to act as a vehicle to solve legacy centralized broadcasting solutions. Web3 is also a rapidly growing sector.

Livepeer Token now has a very attractive market capital for investors looking to ride the wave up for the next crypto bull market.

Cryptoassets are a highly volatile unregulated investment product.

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