yes, youtube ranking algorithm will always favor livestream videos, those will rank better on search and get suggested as long as the video is live, that is why you see many channel owners stream their offline videos in loops as livestream videos (via OBS or other streaming software), they can easily reach new audience and collect subscribers.
note that the "special" boost may end when that video will go offline (turn into offline recorded version of the live streamed video) but with a good VPS you can stream for weeks