LEO Technical Analysis: Watch Support Level of $3.14 to Confirm a Bearish Trend
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LEO Technical Analysis: Watch Support Level of $3.14 to Confirm a Bearish Trend

May 11, 2021      Ankita Awasthi

UNUS SED LEO (LEO) is a token used all around the iFinex system. It helps users in cutting down the trading fees. The token is bought back monthly to ensure none are left in the market. Transparency is offered to the crypto community and can ensure if it is meeting targets or not. The LEO technical analysis is as follows:

Past Performance 

LEO has been trading between $2.47 and $3.59 in the past seven days. It touched its all-time high on 10th May. It is currently down by 2.93% from its ATH.

https://s3.tradingview.com/snapshots/r/rZtYfLDl.png

Link: https://s3.tradingview.com/snapshots/r/rZtYfLDl.png

Day Ahead And Tomorrow

In the past 24 hours, LEO has traded between the range of $2.91 and $3.59, making a change of 18.36%. This shows how the chart followed the uptrend and hit an all-time high.

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The 90-day low of LEO was $1.38 and the rally continued to hit ATH.

MACD line and signal line have also followed the trend. Picked up the pace along with a bull run. Now they seem ready to draw back from the positive zone. The signal line is getting ready for a crossover and once it crossover from below, we might see a pullback.

RSI being a leading indicator shows trend reversals. RSI is currently hovering around the overbought zone and is trying to enter back. Moreover, RSI suggests taking a short position at this level. The RSI movement towards the oversold zone will confirm the bear trend for us, and it might continue for some time.

LEO Technical Analysis

Even Bitcoin is currently facing a sell-off in the market. We might see a sell-off for the rest of the day in altcoins as well. An important level to look for if a sell-off continues in the market is $3.31. It can take support at this level if it breaks this price then the support level would be $3.14 on the daily chart. Hence, it will confirm a bearish trend post this level.

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#LEO #UNUS SED LEO
Ankita Awasthi
Ankita Awasthi

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.