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The price of UNUS SED LEO (LEO) was able to print a gain over the past 24 hours, which was a period that saw the majority of altcoins in the market print significant losses. During this period, the total crypto market cap had fallen 5.40%, which forced the total down to around $1.04 trillion according to CoinMarketCap.
LEO was a standout performer, as it was able to print a 0.57% gain over the past 24 hours. The recent increase meant that the altcoin was changing hands at $3.57 at press time. Not only did it strengthen against the dollar, but was also able to outperform the two market leaders Bitcoin (BTC) and Ethereum (ETH).
LEO was up 4.47% against BTC and 5.78% against ETH. This meant that 1 LEO was worth 0.0001397 BTC and 0.002039 ETH. The crypto was also trading closer to its 24-hour high of $3.58, while its daily low sat at $3.49.
LEO’s price has been in a consolidation channel between $3.4869 and $3.6098 over the past few weeks. Furthermore, it was trading below the 9-day and 20-day EMA lines and closer to the $3.4869 mark over the past 3 days.
The altcoin’s price had broken above the 9-day and 20-day EMA lines in yesterday’s trading session, but was unable to close the daily candle above the two technical indicators. There were several bullish technical flags that were recently triggered which suggested that LEO’s price would successfully close today’s trading session above the two lines.
The 9-day EMA line was on the verge of crossing above the longer 20-day EMA line. Should this cross happen, it will indicate that LEO’s price had entered into a short-term bullish cycle and would continue to rise in the next 24-48 hours. Furthermore, the daily RSI line had crossed bullishly above the daily RSI SMA line in the past 48 hours.
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