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The price of UNUS SED LEO (LEO) increased more than 3% over the last 24 hours according to CoinMarketCap. At press time, the altcoin’s price is up 3.42% and is trading at $3.57. In addition to this, LEO was also able to strengthen against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 6.37% and 6.95%.
LEO’s price is currently trading very close to its 24-hour high of $3.58, which suggests that the altcoin will set a new daily high before the end of today’s trading session. The 24-hour volume for LEO has also increased 2.32% over the last 24 hours – taking the total daily trading volume to $648,303 at press time.
The price of LEO has broken above the key resistance level at around $3.478 over the last 24 hours and looked to do the same with the resistance level at $3.584. Although the altcoin’s price was able to break above the $3.584 mark, it was unable to flip the level into support and has pulled back to trade below the level at press time.
Technical indicators on LEO’s daily chart suggest that the altcoin’s price has entered into a short-term bullish cycle, with the 9-day EMA crossing bullishly above the 20-day EMA this past Wednesday.
Furthermore, the daily RSI for LEO is currently trading above the daily RSI SMA and is sloped positively towards overbought territory at press time. This suggests that LEO’s price will rise in the next 24-48 hours. Should LEO’s price close today’s trading session above $3.584, then this bullish thesis will be validated and LEO will look to rise to around $3.68.
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