Livepeer (LPT) Surges 110% in 48 Hours, Altcoin Market Sentiment Shifts

Livepeer (LPT) has experienced a significant price surge, rising over 110% in less than 48 hours to trade near $11.77. This rapid increase has shifted sentiment across the broader altcoin market, prompting traders to question the sustainability of this rally into June.

The recent price action of LPT reflects a clear breakout from a multi-week symmetrical triangle visible on both 4-hour and daily charts. The breakout above the $6.50–$7.00 resistance zone coincided with high volume, triggering a vertical move that touched an intraday high of $14.32 before pulling back slightly. Current price levels are consolidating just under $12.00, suggesting that profit-taking is underway after the parabolic move. However, the underlying structure remains bullish as long as LPT holds above the $10.00 psychological mark. Short-term support is now established at $10.40, while immediate resistance lies at $13.70 and the major resistance at $16.00.

On the 30-minute timeframe, the Relative Strength Index (RSI) has cooled down from overbought territory and now hovers around 52.15, allowing room for a potential second leg higher. The Moving Average Convergence Divergence (MACD) line is below the signal line, indicating bearish momentum. However, the histogram shows declining bearish momentum, suggesting the possibility of a bullish crossover. Stochastic RSI has flipped upward again after a brief reset, with values now nearing the midline. Meanwhile, the Chande Momentum Oscillator remains negative at -18.32 but is recovering from oversold levels, indicating neutral short-term momentum. These mixed readings suggest that price may oscillate within a tight band before a clearer direction emerges.

Ichimoku Cloud analysis on the 30-minute chart shows price stabilizing just above the cloud, with the baseline (Kijun-sen) at $11.29 and the leading span A trending upward. This suggests underlying bullish strength is still present, even if temporarily paused. Bollinger Bands are starting to narrow on the lower timeframes after the explosive volatility. The mid-band near $10.40 is a key level to watch, and any retest that holds could reinitiate upward movement. Traders should also note that the price remains well above the 200 Exponential Moving Average (EMA), reinforcing the breakout’s strength.

Zooming out to the daily chart, LPT price spikes have brought the asset back into a prior resistance zone from early this year. The long-term downtrend appears to have been decisively broken, with a higher high now confirmed. However, a healthy pullback or sideways consolidation is expected before any extension toward the next major target at $16.70. The key question now revolves around LPT price volatility—can bulls sustain momentum without a significant correction? As of now, short-term price structure remains intact above $10.00, and bulls may attempt another push toward the $13.50–$14.00 zone if momentum revives.

Barring a strong rejection from the $13.70 level, LPT could remain in a consolidation phase for the first week of June. Any confirmed break above $14.50 would expose the $16.00–$17.00 range, whereas a fall below $10.00 could reintroduce weakness toward $8.40. LPT price has staged one of the most notable breakouts among altcoins this week. While near-term volatility may shake out weak hands, the structure favors higher levels as long as momentum doesn’t completely fade. Traders should watch closely how the price reacts around $12.00 and $13.70—any clean break could mark the beginning of another surge.