LEO was launched in 2019 and was designed so that Bitfinex users could save money on trading fees. The limit of discount depends on the amount of LEO a customer has in his/her account. The price fluctuation depends on the trading pair. Let us <a href="https://www.cryptoknowmics.com/news/leo-technical-analysis-price-is-below-the-fibonacci-pivot-point-of-2-41/">look</a> at the technical analysis of LEO.
<h2><strong>Past Performance of Unus Sed Leo</strong></h2>
On September 24, 2021, LEO opened at $3.01. On September 30, 2021, LEO closed at $2.82. Thus, in the past week, the LEO price has decreased by approximately 6.3%. Whereas in the last 24 hours, ZIL has traded between $2.79-$2.99.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/v/VYyN2trS.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/VYyN2trS/">https://www.tradingview.com/x/VYyN2trS/</a>
<h2><strong> LEO Technical Analysis </strong></h2>
Currently, LEO is trading at $2.87. The price has decreased from the day’s opening price. Thus, the market seems bearish for the rest of the day.

The <strong>MACD and signal lines</strong> have entered the negative zone on the daily chart. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, the price may decline further.

Although, a strong buying pressure can make the price move towards the resistance level and the signal line can crossover the MACD line.

Currently, the <strong>RSI indicator</strong> is at 45, which turns out to be a big resistance. Thus, buying pressures are slowly mounting. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal.

The <strong>OBV line</strong> has gradually been decreasing. Thus, it indicates that the investors are losing interest in the coin.

In short, when we look at the two oscillators, we can say that the price may continue to rise for the day ahead. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch if an intermittent fall in the price is a corrective action or the beginning of a downtrend again.
<h2><strong>Day-Ahead and Tomorrow</strong></h2>
Currently, the LEO price is trading in a narrow range. It has constantly been taking support from the bottom rising channel and moving ahead. A breakdown from this trend will confirm the bear trend for the coin. Moreover, if the price breaks the support level of $2.64, it will highlight the next support level at $2.55. Traders can accordingly take a short position.

The price is testing its long-term resistance level at $2.89. It is currently trading above the <strong>23.6% FIB retracement level</strong> of $3.07. Thereafter, we have to wait and watch if the price breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well.

LEO Technical Analysis: Price Breaks the Support Level $2.64, Next Support Level at $2.55

LEO price is testing its long term resistance level which is at $2.89. It is currently trading above the 23.6% FIB retracement level of $3.07. Thereafter, we have to wait and watch if the price breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

LEO Technical Analysis: Price Breaks the Support Level $2.64, Next Support Level at $2.55

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