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- 1 LEO price prediction suggests that the LEO token is under bears hold.
- 2 On the daily chart, LEO price is down by 0.74% in the last 7 days.
LEO price prediction indicates that bears have a keen watch over the price as it heads toward the supply zone. The LEO price is steadily approaching its crucial immediate support near a confluence of 50 and 100 EMA. There is a significant selling pressure near $4.200, the LEO token has attempted to break above this crucial resistance zone thrice facing rejection each time. Though the buyers are still persistent in their attempts.
The price of the LEO token is taking a reversal from its resistance despite the bull’s attempt to make a breakout. The price will require fierce support from the buyers in order to make a break, even if the present trend is bearish. As past attempts have not yielded the desired result for the buyers, the probability of a breakout is not very feasible. At present it can make a slight 4 – 5% correction before it finds support.
LEO’s price is currently trading at $3.90 with a 10% gain in the 24-hour trading volume and has a market cap of $3.59 Billion.
Investors Showing A Surge In Bearish Pessimism
According to LunarCrush, the community is not as engaged regarding the LEO token on multiple social media platforms. The total bullish sentiment parameter has declined by 98.53% whereas the total social engagement metrics are seeing a fall of 99.9% within the past week.
However, 24-hour trading volume has hiked by 10.93%, indicating more activity among buyers and sellers regarding LEO within the last few weeks.
LEO Price Prediction: Technical Analysis of LEO Price On Daily Chart
The RSI line is progressing toward the oversold level on the 1-day chart. The RSI line is moving near 44.36 points and the 14 SMA provides support at around 56.09 points. The RSI line indicates that the price of the LEO token may soon see a bearish decline.
Stochastic RSI has approached the oversold levels. The Investors might wait for a positive interception between the %D and %K lines. The present value of stochastic RSI is 2.62 points.
Conclusion
According to the analysis, LEO price prediction indicates that bears have a keen watch over the price as it heads toward the supply zone. If the bears succeed in pushing the LEO price further it can lose 4 – 5% of its value within the near future. The community is not active across multiple social media platforms regarding the LEO token.
Technical levels
Support – $3.60
Resistance – $4.20
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
