The bulls muster more strength as Livepeer rises by 22% from January 18 to January 24.
The analysis of last week’s price action shows that the Livepeer market is in the bullish phase since the price has been moving upward. LPT has been going through a period of medium volatility, which fell in line with the occurred price changes. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The price action of the crypto coin from last week stemmed from the increasing trading volume.
The situation on the Livepeer market allows us to characterise its volatility as mild. We established that LPT didn't showcase any significant price action due to the market's mild average volatility of 8%. The highest point of the coin's volatility reached 10.26% in the analyzed time frame. 1.35% was the rock bottom for the asset's volatility that was reached on January 22. The crypto coin's market didn't put up any surprises due to mild average volatility of 8%.
On January 19, the price of the coin has shifted by 4% from the daily open on the back of a good trading volume. During the following trading period on January 20, the price of Livepeer oscillated between the low at $5.39 and the high at $5.75, while the price moved up by 6%. The LPT market was up as the price shifted by 6% on January 21, against the backdrop of the sufficient trading volume. The price range of Livepeer on January 22 formed between $6.4 and $6.65, whereas the daily price extremities were $6.31 and $6.81. The activity on the crypto coin's market on January 23 resulted in the asset being traded between $6.61, the open of the day, and $6.74, the close of the day; at some point, the price spiked to the daily high at $6.78 and briefly dropped to the daily low at $6.46. On the last day of the reviewed period, the coin was locked between $6.71 and $6.89, though the price managed to puncture these levels to reach the 24H high at $6.9 and the 24H low at $6.68. Over the course of all trading sessions, the asset established the weekly low at $5.37 while buyers managed to push the price up to the weekly high at $6.9. Traders saw Livepeer covering the $1.24 distance between the weekly low and the weekly high, which constituted for a 22% move.
Over the period of the last 7 days, January 18 to January 24, Livepeer saw its average trading volume fluctuate between $7 763 112 and $9 167 779. A more comprehensive analysis of LPT price action requires the comparison of the trading volume between January 18 and January 24 with that from the preceding week that demonstrated how the trading volume fluctuated between $4 764 673 and $20 879 669. The asset demonstrated an 1% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 22%.
The change in the total market capitalization of Livepeer from January 18 to January 24 was as follows: on January 18, the capitalization was at $163 972 409, while on January 24, it reached the level of $182 017 257. Percentage-wise, the market capitalization of LPT has shifted by 11% in the past week. As a consequence of the 11% fluctuation in its market capitalization, the price of the coin changed by 22%. The comparison with the Livepeer market capitalization seen during the time period January 11 - January 17 that occurred before the observed one, which changed by 23%, from $134 476 431 to $165 483 896, allows us to get a clearer understanding of current market conditions.