Will LEO Price Hit $10 Soon?

• Bullish UNUS SED LEO (LEO) price prediction ranges from $3.310  to $4.489
• The analyst predicted LEO to hit $7.5 and the token traverses the path as predicted.
• ‌The LEO bearish market price prediction for 2023 is $2.068.

Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies. UNUS SED LEO (LEO) is one of them.

The cryptocurrency UNUS SED LEO portrays itself as “the utility token at the heart of the iFinex ecosystem.” It is intended for use on the Bitfinex cryptocurrency exchange to reduce trading, lending, and other exchange expenses.

If you are interested in the future of LEO and want to know its predicted value for 2022, 2023, 2024, 2025, and 2050, keep reading!

UNUS SED LEO (LEO) Market Overview

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What Is UNUS SED LEO (LEO)?

UNUS SED LEO (LEO) is a utility token utilized throughout the iFinex ecosystem. Bitfinex users can save money on trading costs by using cryptocurrency. The discount is determined by how much LEO the customer has in their account, and the savings will be divided into three tiers. The volatility of a trading pair depends on whether it is crypto-to-crypto or crypto-to-stablecoin. Unlike FTX and other exchange-issued tokens, LEO cannot be used to create leveraged positions.

Because of the token burn mechanism, iFinex is committed to purchasing UNUS SED LEO from the market every month. The amount acquired and burned represents at least 27% of iFinex’s revenue, and tokens are also purchased at market value. The firm announced at the time that “the burn mechanism would continue until 100% of tokens have been redeemed.” Unlike several cryptocurrencies, LEO tokens were issued on two blockchains. While Ethereum had 64% of the initial supply, EOS held the remaining 36%.

The token lowers taker and lending fees for all iFinex platforms, products, and services. Furthermore, the LEO Token offers a 25% discount on withdrawal and deposit fees, as well as a reduction in derivatives taker fees. Furthermore, similar reductions apply to Bitfinex and EOSfinex, as both platforms operate under the iFinex banner. Any future platform developed under the iFinex banner will provide comparable discounts to LEO token holders.

If the trader possesses certain tokens in their portfolio, up to 25% will be deducted first in LEO. Furthermore, the withdrawal and deposit fee savings allow any user owning more than $50 million in LEO tokens (on average over the preceding month) to withdraw up to $2 million without charging further fees. Any amount over $2 million is subject to a 2% fee rather than a 3% fee.

UNUS SED LEO (LEO) coins are built on Ethereum and EOS. Bitfinex has developed a dashboard with real-time statistics on the current supply and how many LEO tokens have been burned. LEO burns are compared daily using bar charts.

Analyst view on UNUS SED LEO (LEO)

Since the security breach in August 2016, Bitfinex has worked with law enforcement agencies around the world and other private sector actors to share information and aid investigations. Bitfinex will repurchase and burn a sum equivalent to 80% of the recovered net money to settle outstanding UNUS SED LEO tokens within 18 months of the date it receives a recovery of the stolen bitcoin, as stipulated in the UNUS SED LEO token white paper. It is possible to repurchase tokens on the open market, via over-the-counter exchanges, and even by exchanging bitcoin for UNUS SED LEO.

The analyst has been stating that if the stolen BTC returned to Bitfinex, we can expect LEO price to reach $6 soon.

UNUS SED LEO (LEO) Current Market Status

With 953,954,130 LEO coins in circulation, UNUS SED LEO (LEO) trades at  $3.42 at the time of writing. LEO has a 24-hour trading volume of $474,404, and during the previous 24 hours, the price of LEO has decreased by 1.31%.

At the moment, the most popular exchanges to trade UNUS SED LEO (LEO) are OKX, DigiFinex, Gate.io, and Hotcoin Global.

UNUS SED LEO (LEO) Price Analysis 2023

Currently, LEO ranks 21st on CoinMarketCap’s list of the largest cryptocurrencies by market capitalization. Will UNUS SED LEO’s most recent improvements, additions, and modifications help its price climb? Let’s focus on the charts in this article’s LEO price forecast first.

UNUS SED LEO (LEO) Price Analysis – Keltner Channel

The Keltner channel is a technical indicator introduced by American grain trader, Chester W. Keltner to gauge the volatility of the market. For this purpose, it has three bands; the Upper band, Middle band (EMA), and lower band. 

The upper band is calculated by adding twice the Average True Range (ATR) to the EMA (middle band), while the lower band is calculated by subtracting twice the ATR from the EMA. Moreover, the Keltner bands could also be used to determine the direction of the price movement. 

The chart above shows two red rectangles that denote the expansion and contraction of the Keltner channels. When the bands widen it means that there is going to be more volatility. Or in other words, the prices could drastically drop or increase. When the bands squeeze, there could be less volatility. This is because the range of fluctuation would be restricted and the prices will be constrained to move sideways. 

Additionally, when the price of a cryptocurrency continuously touches the upper or lower band and thereafter touches the opposite band, (which is, if a cryptocurrency continuously touches the upper band and finally touches the lower band, then we could determine that the bullish trend has faded.) This applies vice-versa as well. This behavior could be seen inside the green rectangle. 

Currently, LEO is moving sideways as the Keltner bands are constricting. Moreover, LEO is fluctuating right in the center of the Keltner channel while overlapping the EMA, hence, there is a possibility that LEO could move in either direction of the Keltner channel. It could be to the first half of the second of the channel. However, the bands are placed parallel to the horizontal axis, hence we may see LEO move sideways in the future.

UNUS SED LEO (LEO) Price Analysis – Bollinger Bands 

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average.

When this setup is used in a cryptocurrency chart, we could expect the price of the cryptocurrency to abide within the upper and lower bounds of the Bollinger bands 95% of the time. 

The above thesis is derived from an Empirical law also known as the three-sigma rule or the 68-95-99.7 which states that almost all observed data for a normal distribution will fall within three standard deviations. 

As such for a data set that follows a normal distribution, 68% of data will fall within 1 standard deviation of the mean, while 95% of data for the normal distribution will fall within 2 standard deviations of the mean and 99.7% of data will fall within 3 standard deviations of the mean. 

Hence, as the Bollinger bands are calculated using two standard deviations, we could expect LEO to abide within the Bollinger bands 95% of the time. (i.e whenever the cryptocurrency touched the upper band, the chances of it coming down are 95%.). This concept applies vice-versa as well. 

Moreover, the sections highlighted by red rectangles show how the bands expand and contract. When the bands widen, we could expect more volatility, and when the bands contract, it denotes less volatility. Currently, the bands are squeezing, hence, LEO could consolidate.  

However, each consolidation phase has been followed by expanding Bollinger bands, hence this could be the calm before the storm. As such traders should be vigilant in order to make hay while the sun shines. 

Notably, the Bollinger Band behaves very closely with the Keltner channel. For instance, if you were to use both the Bollinger bands and Keltner channel indicators for a cryptocurrency, you would see that almost most of the time both indicators overlap. However, the only difference between with Bollinger band and the Keltner channel is that the Bollinger bands use Standard Deviation while the Keltner channel uses Average True Range for calculating its bands which are the top and bottom limits. 

UNUS SED LEO (LEO) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA it is considered bullish and if it’s below the SMA then it is bearish. When considering the first green rectangle from the left of the chart below we can see that the RSI line (purple) is above the Signal line (yellow). As such, LEO is bullish or gaining value as its making higher highs. The second green rectangle shows that the RSI is below the signal. Hence, it is bearish as it is making lower lows.

Moreover, the RSI compares the gains of the securities against the losses it made in the past. This ratio of gains against the losses is then deducted from the 100. 

If the answer is less than 30, then we call that the price of the security is in the oversold region. This means that many are selling the security in the market, and as such the security is undervalued.  Moreover, as per the Supply-demand curve theory, the price is supposed to drop when there is an increase in supply. 

If the answer is more than 70 then the security is overbought as many are buying. Since many want to buy the security the demand increases which intuitively increases the prices.

Additionally, the RSI could be used to determine how strong a trend is. For instance, when a cryptocurrency is bullish or reaching higher highs, then the RSI line also should be making higher highs in unison. If not it means that although the cryptocurrency is on a bullish trend it is losing value and hence a trend reversal could be lurking around the corner.

However, the RSI could also give false alarms for breakouts. Although we may expect, the prices to retrace if it goes to the oversold or overbought region, the prices also can stay in the oversold or overbought region for an extended period. As such, traders should be wary of it and let the market saturate before making vital decisions. 

UNUS SED LEO (LEO) Price Analysis – Moving Average

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA equally distributes down all values whereas the Exponential Moving Average gives more weightage to the current prices. Since SMA undermines the weightage of the present price, the EMA is used.

Whenever the price of cryptocurrency is above the 50-day or 200-day MA, or above both we may say that the coin is bullish (Green triangle section). Contrastingly, if the token is below the 50-day or 200-day, or below both, then we could call it bearish (the blue triangle section).  

When looking at the blue highlighted triangle in the above chart, we can see that LEO wasn’t far below the 50-day MA. Although LEO managed to test and break the 50-day MA on quite a few occasions as shown, however, it wasn’t able to retain its gained position. Hence, we could see LEO fall below the 50-day MA. Moreover, this fall that made LEO feeble was brought about by the death cross happened.  

Since the death cross, LEO has been able to fluctuate above the 50-day MA. Nonetheless, currently, LEO is rebounding on the 50-day MA, if the bulls give momentum to LEO, it may test the 200-day MA and there’s also the possibility of LEO breaking it. 

UNUS SED LEO (LEO) Price Prediction 2023

When considering the chart above, we could see how LEO fluctuated in a regression trend before surging to Resistance 3. The movement inside the regression trend was more toward the middle line of the regression trend. Within the regression trend, we can how LEO consolidated rebounding on three support levels. It rebounded on $2.328, $2.745, and $3.475 inside the regression trend. 

Currently, LEO has broken out from the falling wedge, and as per the book, it should rise. Nonetheless, it seems to be consolidating, as the Bollinger bands are squeezing. But this could be the calm before the storm. 

Hence, if LEO is to rise it may first test Resistance 1 at ≈ $4.489, and if LEO is rejected at resistance 1, then it may consolidate in the future. However, if the bulls are powerful and LEO surges just like it surged after coming out of the regression trend, then it would break Resistance 1 and 2 and move onto Resistance 3 at ≈$6.107. If it breaks Resistance 3 then LEO could surge to Resistance 4 at ≈ $7.5. 

Contrastingly if LEO starts to fall down, then it would seek the assistance of Support 1 at $2.745 but if it doesn’t hold LEO then it would try to rebound on $2.328. However, as the support at $2.328 is weak, LEO would land on Support 2 at $2.068. 

Month	Minimum Price	Average Price	Maximum Price
May 2023	3.41	3.5	3.65
June 2023	3.82	3.99	4.12
July 2023	4.25	4.34	4.67
August 2023	4.75	4.9	5.15
September 2023	5.21	5.32	5.89
October 2023	6.25	6.52	6.72
November 2023	6.81	6.95	7.10
December 2023	7.29	7.55	7.89

UNUS SED LEO (LEO) Price Prediction – Resistance and Support Levels

When looking at the chart above we could see that LEO seems to be reciprocating its fluctuation pattern in 2019. It has formed a third of the arc that it formed in 2019, as such we could expect it to fluctuate forming the shape of the arc.  Hence, if LEO follows the preceding thesis, we may expect it to fluctuate within the Resistance 1 and Support 1 range. However, even this above-said range has a price action of 65%. 

Hence, traders should wait until LEO formed the bottom to enter the market if it is following the above-said arc pattern. 

UNUS SED LEO (LEO) Price Prediction 2024 

LEO price can rise to incredible heights, peaking at $12.46. This is only feasible if the market continues its upward path and if UNUS SED LEO (LEO) breaks through the past psychological resistance levels. According to the forecast,  UNUS SED LEO (LEO) has a strong chance of reaching the previous ATH.

UNUS SED LEO (LEO) Price Prediction 2025

We should expect the price of LEO to trade above its price in 2024 because most cryptocurrencies may be able to break through psychological barriers after Bitcoin’s price halving in 2024. So, by the end of 2025, LEO could be worth around $16.5.

UNUS SED LEO (LEO) Price Prediction 2026

LEO prices might grow to $20.66 during the next four years. Furthermore, hitting this level may not be so challenging for UNUS SED LEO (LEO) since the new medium, short-term and long-term price objectives for purchase or sell orders, may be discovered. According to the forecast,  UNUS SED LEO (LEO) has a strong chance of reaching the previous ATH.

UNUS SED LEO (LEO) Price Prediction 2027

Due to Bitcoin halving, investors expect a bullish run in 2028. So, the price of LEO could build on its recent gains and even break through more psychological barriers if investors feel good. So, by the end of 2027, LEO could be worth $24.87, and LEO is likely to break its ATH value.

UNUS SED LEO (LEO) Price Prediction 2028

Bitcoin will be halved in 2028. So, a bullish run could happen before the market settles down in 2027. The price of LEO could reach $28.94.

UNUS SED LEO (LEO) Price Prediction 2029

In the next seven years, LEO prices could rise to $33.14. More so, reaching this level could not be so difficult for UNUS SED LEO (LEO) as another medium, short-term and long-term price targets, could be found to purchase or sell orders. According to the forecast, LEO has a strong chance of reaching the previous ATH.

UNUS SED LEO (LEO) Price Prediction 2030

The cryptocurrency market was stable because early investors held on to their assets so they wouldn’t miss out on future price gains. By the end of 2030, the price of LEO could be around $37.75, despite the bearish market that followed a market boom in the early years.

UNUS SED LEO (LEO) Price Prediction 2040

According to our long-term UNUS SED LEO price estimate and If the current growth rate continues, we could anticipate an average price of $75 by 2040. If the market becomes bullish, the price of UNUS SED LEO may increase beyond our 2040 forecast.

UNUS SED LEO (LEO) Price Prediction 2050

According to our UNUS SED LEO/Luna Classic forecast, the average price of LEO in 2050 might be above $150. If more investors are drawn to UNUS SED LEO between these years, the price of UNUS SED LEO in 2050 could be far higher than our projection.

Conclusion

As said above, the LEO price may even reach above $10 if investors have decided that the crypto is a good investment, along with mainstream cryptocurrencies.   

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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