UNUS SED LEO Price Analysis: LEO Consolidates over the charts, What’s Next?

UNUS SED LEO price is trying to recover itself from the consolidation phase over the daily price chart.
LEO Token price is currently trading towards the 20, 50 , 100 and 200-days Daily Moving Average.
The pair of LEO/BTC is at 0.0002657 BTC with an intraday drop of 8.19%.

The price of UNUS SED LEO is obviously decreasing as shown by the daily price chart. The token’s price started to fall on February 8 and started falling from $8.17. The currency is clearly moving downwards and dedicated to breaking out of the consolidation, even though it is now trading towards the lower trendline. Bulls must maintain control of the region’s outside border, which is denoted by a horizontal range, before investors in LEO can buy. The price of the LEO coin appears to be extremely committed to exiting the consolidation phase. In order to follow the top trendline of the consolidation phase, LEO must increase its customer base. Currency in LEO has always cost between $4.70 and $6.05.

After sliding from the biggest peak at the beginning of the year 2022 at $8.13, LEO Coin has been stabilizing in a horizontal range-bound area. The price of the cryptocurrency has been fluctuating between $4.70 and $6.00. For the LEO coin price to exit the consolidation stage, additional buyers are required. Investors must watch the daily chart for any directional changes.

On the daily chart, LEO Coin’s price has been moving in the same direction since June 24. Since then, the token has been waiting for its retrieval. Less traders are involved, as evidenced by the below-average volume movement along the chart. For the LEO cryptocurrency to exit the consolidation stage, more buyers are required.

What do Technical Indicators suggest about LEO?

On August 31, the LEO currency attempted to become overbought and tested the 73 RSI level before returning as a result of short selling. On the following intraday trading session, the token dropped to its present level, indicating a powerful reactive response by bearish. The RSI, which predicts neutrality for the LEO coin, is at 54. Investors must watch the chart for any directional changes.

Conclusion

The price of UNUS SED LEO is obviously decreasing as shown by the daily price chart. The token’s price started to fall on February 8 and started falling from $8.17. The currency is clearly moving downwards and dedicated to breaking out of the consolidation, even though it is now trading towards the lower trendline. Bulls must maintain control of the region’s outside border, which is denoted by a horizontal range, before investors in LEO can buy. The price of the LEO coin appears to be extremely committed to exiting the consolidation phase. On August 31, the LEO currency attempted to become overbought and tested the 73 RSI level before returning as a result of short selling.

Technical Levels

Support Level: $5.00 and $4.80

Resistance Level: $5.90 and $6.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing