Crypto traders will take any edge they’ll get. From elementary analysis on long-term prospects to short-term price pumps created by new trade listings, the 24/7 digital asset market offers alternatives for traders and traders of all stripes.
But this week, these traders who incorporate the Cointelegraph Markets Pro VORTECS™ Score into their analysis had a particular motive to have a good time the inherent volatility that makes risk-averse traders cringe… and seasoned crypto professionals pop champagne corks.
LPT, the Ethereum-based native token of decentralized video streaming community Livepeer, has seen some extraordinary ups and downs over the past three months. Valued at lower than $2.00 in mid-January, it soared on the news that Grayscale Investments, one of the blue chips of digital asset funding, had been poised to launch an LPT belief.
Another pump got here on March 17, with the official validation of the information that noticed the token to its then-ATH round $30. By early April, it was nearing $40 on the news of an OKEX itemizing.
The relaxation of April and early May had been largely uneventful for Livepeer, earlier than a collection of bullish information objects as soon as extra noticed the token attain its present all-time excessive above $44 on May 11.
As the graph under rom Cointelegraph Markets Pro illustrates, that rally was strongly pushed by two bulletins, delivered to the platform’s customers as instantaneous NewsQuake™ notifications: Listing on Bithumb trade and begin of SGD buying and selling on Gemini (crimson circle within the graph).
And then, Bitcoin and the complete crypto market tumbled… with Livepeer a main casualty.
The outlook turned bleak for the asset as LPT launched into an nearly uninterrupted downward run that took it from its all-time excessive round $44 to the low of $11, registered on May 24.
Finally, this week introduced excellent news that spelled a reversal of the adverse pattern. The VORTECS™ Score, an algorithmic comparability of historic and present market situations unique to Cointelegraph Markets Pro, recognized situations which have traditionally been favorable for LPT — giving members a heads-up that bullish situations had been recognized a number of hours earlier than the tide’s precise reversal.
The rating earlier than the storm
within the chart above the coin’s VORTECS™ rating line went darkish inexperienced at 81 (first crimson circle) whil the price was nonetheless looking for the underside at round $11. VORTECS™ Scores above 80 usually point out patterns of market and social exercise that previously constantly preceded important will increase within the asset’s price over the subsequent 12-72 hours.
This spike coincided with Livepeer’s tweet of a new weekly report excessive in phrases of the size of distinctive video transcoded — a real-world improvement that would persuade traders that the asset had been undervalued.
Several hours later, the price started climbing (first crimson field), finally reaching $24 on May 26. While nonetheless on the best way to this native peak, the VORTECS™ algorithmic rating went over 80 once more (second crimson field), suggesting that earlier runs like this one normally had second legs. Indeed, a small aftershock did come a number of hours later, taking the price from $32 to nearly $36.
Sure sufficient, Markets Pro members have been seated within the entrance row for each, because of lightning-fast NewsQuakes™ delivered through cell notifications and in-browser alerts. Even earlier than these two bulletins hit, Livepeer was 144% up this week, and clearly the coin’s gloomy streak is over for now.
Cointelegraph Markets Pro is accessible exclusively to members on a month-to-month foundation at $99 per thirty days, or yearly with two free months included. It carries a 14-day money-back coverage, to make sure that it matches the crypto buying and selling and investing analysis wants of subscribers, and members can cancel anytime.
Cointelegraph is a writer of monetary data, not an funding adviser. We don’t present personalised or individualized funding recommendation. Cryptocurrencies are risky investments and carry important danger together with the chance of everlasting and whole loss. Past efficiency will not be indicative of future outcomes. Figures and charts are appropriate on the time of writing or as in any other case specified. Live-tested methods should not suggestions. Consult your monetary advisor earlier than making monetary choices. Full terms and conditions.