The LEOUSD price prediction shows that the token is trying to break the upper trendline on the daily time frame chart. LEO crypto needs to increase the positive momentum in order to break out from the descending pattern. However, sellers may approach the 50-SMA which is acting as a resistance to the crypto price. However, the 24-hour trading volume (21.642K) is lower than the 10-day average volume (29.613K).
LEO crypto price prediction suggests the crypto produced an interesting declining pattern. The crypto struggled to move above the 20, 50, 100, and 200-day daily moving averages.
LEOUSD price prediction implies that investor sentiments regarding the LEO token are bearish. Investors may prefer to keep a keen watch over the crypto. Presently, the LEOUSD price is below all the key EMA and MA levels.
The present value of LEO is $3.64790000. It has a market capitalization of around $3.396 Million with a fully diluted market cap of $3.6 Billion. The crypto has a circulating supply of 929.296 Million.
LEOUSD has performed poorly so far this year. Year-over-year returns are 0.95% while returns over the past 6 months are 8.68%. The return was -8.89% last month and -4.77% last week. Technicals signal selling pressure while the technical oscillators indicate neutrality. The moving averages are also on the strong sell side. This shows bearish dominance in the market.
Technical Analysis of LEOCrypto Price in 1-D Timeframe
At the time of publishing, LEO crypto (USD: LEO) is trading below the 50 and 200-day simple moving averages, which shows bearish momentum.
However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the Leo Crypto price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 35.10 points. The 14 SMA is below the median line at 38.51 points which indicates that the LEOcrypto is bearish. The MACD line at -0.06276742 and the signal line at -0.0531227 are above the zero line. A bearish crossover is observed in the MACD which signals more bearishness for the LEO crypto price.
Summary
LEO (USD: LEO) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the LEO crypto price. Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: $3.45666667 and $2.96666667.
- Resistance Levels: $3.94666667 and $4.18333333.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/09/16/the-future-of-leo-crypto-what-to-expect-with-leo-in-sep-2023/