The LPT coin price forms a descending triangle pattern in the 4-hour chart that can shortly provide a buying opportunity with a bullish breakout.

Livepeer was introduced in 2017. It is the very premier live streamer network that's decentralized. Its goal is to be an effective, blockchain-based economical alternative to traditional broadcasting systems for both existing and new broadcaster businesses.

Let us move ahead to read about the Livepeer technical analysis.
<h2>Past Performance of LPT</h2>
The LPT coin price shows a short-term downtrend after the <a href="https://www.cryptoknowmics.com/news/lpt-technical-analysis-up-almost-4400-since-the-start-of-this-year-matching-capabilities/">recent</a> dump of supply. The falling price action makes a lower high formation in the 4-hour chart. Therefore, forming a descending triangle pattern in the four-hour chart. 

<img src="https://s3.tradingview.com/snapshots/p/pf98VISk.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/pf98VISk/">LPT/USD 4-hour Chart</a>
<h2>LPT Technical Analysis</h2>
The LPT coin price shows a high possibility of a bullish breakout of the descending triangle pattern in the 4-hour. The reason behind the breakout possibility is the lack of bearish momentum in the recent fall in comparison to the last one.

Moreover, buyers are highly active near the support level at $38.5, which results in a bullish reversal. Therefore, traders should keep an eye on an entry opportunity.

The RSI indicator at 42% shows the slope retracing below the central line as it fails to sustain in the nearly overbought zone. However, the bullish divergence hints at a breakout of the triangle.

The MACD indicator shows the MACD (fast) and signal (slow) lines intermingled below the zero line in the 4-hour chart. Therefore, it is yet to give any conclusive indication. 

Therefore, once the MACD line rises above the zero line to match the bullish signal of RSI, traders can find the LPT coin price break above the resistance trendline.
<h2>Upcoming Trend</h2>
The increasing possibility of the bullish breakout of the triangle pattern makes way for an opportunity to buy the dip highly lucrative. However, the LPT coin price may face opposition near $50 and $58 after the bullish breakout.

LPT Technical Analysis: Bullish Sentiments Reignite Within the Descending Triangle 

The LPT coin price forms a descending triangle pattern in the 4-hour chart that can shortly provide a buying opportunity with a bullish breakout.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

LPT Technical Analysis: Bullish Sentiments Reignite Within the Descending Triangle

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