thecoinrepublic.com
- 1 LEO price is currently trading at $3.38 while seeing a change of -2.88% in 24-hour trading volume.
- 2 The price of Leo token showed a decline of 0.17% in the last 24 hours.
LEO price is currently consolidating within a narrow range. The price is currently trading below all major moving averages including 20-,50-,100-, and 200- EMA’s under a bearish trend. Instead of making a lower-high and a lower-low pattern, which is a characteristic of a bear trend, the price has been trading sideways for the last couple of months. However, recently it gave indications of a positive trend reversal.
The overall movements of LEO coin are choppy and volatile which can be observed by the long wicks and unclear movements instead of a clear upward and downward curve. The uncertainty could discourage investors. Technical indicators are presently giving bullish indications.
LEO Price is Trading Within a Narrow Consolidation on the (Daily Timeframe)
If the price gains strong buyer support from current levels, it could gain up to 12% of its value. The latest resistance level for LEO price is $3.500 which is 5 percent above the current price. The major resistance for LEO price is 12% percent above the present price level of around $3.800. The support level for the LEO price is 6% below the current price at around $3.365.
Technical Analysis (1-Day Timeframe )
The RSI line produced a bullish divergence with the ongoing price action with LEO price trading near the demand zone. The divergence made by the RSI line suggests that the price can make a strong bullish movement. The current RSI value is 50.40 points and is just below the 14 SMA of around 48.13 points. With the RSI making the higher-high and higher-low pattern it is giving a positive sign.
Conclusion
LEO price is currently producing choppy and volatile movements while it is trading below the 200-day EMA. Technical indicators indicate an upcoming bullish trend reversal with the RSI line making a bullish divergence and an increase in the green volume candles.
Technical levels –
Support –$3.365
Resistance – $3.500 and $3.800
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.