Technical Analysis:
LPTUSDT has recently shown significant bullish momentum, marked by high trading volumes and a strong upward movement. The $10 level has acted as a robust support zone, providing a reliable stop-loss point for spot buyers. Based on these technical indicators, there is a strong expectation that LPT will break through the $24 resistance zone and reach higher targets.
Fundamental Analysis:
Several key developments have driven LPT’s recent performance:
• Increased Network Usage: In Q3 2024, Livepeer’s video transcoding usage grew by 4% quarter-over-quarter, with demand-side transcoding fees increasing by 20% in USD terms. This growth reflects rising demand for Livepeer’s decentralized video services.
• Introduction of Livepeer AI Subnet: Livepeer launched an AI Subnet to facilitate AI-powered video processing, creating new revenue streams and increasing demand for the network’s compute resources. In Q3 2024, fees from Livepeer AI accounted for nearly 24% of the transcoding fees, highlighting its growing importance.
• Community Engagement and Development: Active governance proposals and community involvement have strengthened Livepeer’s growth and decentralization. Regular updates, discussions, and events have reinforced the community’s role in shaping the network’s future.
These fundamental factors, coupled with the technical analysis, suggest strong potential for LPTUSD to surpass the $24 resistance zone and achieve new highs. For spot purchases, the $10 support level serves as a reliable stop-loss point.
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