UNUS SED LEO (LEO/USD) Market Fall Looms as Price Hits Diagonal Resistance
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UNUS SED LEO Price Prediction – July 17
LEOUSD market fall looms as the price hits the diagonal resistance. The overall trend of the market is bearish. As the market attains its maximum price level within the current trading range, a massive crash is likely to ensue.
The Simple Moving Average (SMA) for the past 9 days, currently at $5.80630, shows a downward slope, indicating a short-term bearish trend. Additionally, the Stochastic Oscillator, with %K at 79.31 and %D at 86.76, is in the overbought region, suggesting that the selling pressure might increase soon as the asset could be overvalued at these levels.
LEO/USD Market Key Levels:
Resistance levels: $6.00710, $6.18560, $6.50000
Support levels: $5.39320, $5.17220, $4.35060
LEO/USD – Daily Chart
The daily chart for LEO/USD shows that a massive fall looms as the price hits the diagonal resistance.
Examining the price actions, LEOUSD has exhibited a clear shift in market structure. The chart reveals a Change of Character (CHoCH) followed by a Break of Structure (BOS) around the $5.39320 level.
The price experienced a significant drop from its peak and has failed to sustain above the key resistance at $6.00710, confirming the bearish sentiment. The descending trendline from mid-May acts as a major resistance, which the price has struggled to break, reinforcing the downward trend.
What is the short-term projection for the LEOUSD market?
Looking ahead, the projection for LEOUSD is bearish. The price is expected to test the immediate support levels at $5.39320 and potentially $5.17220 if the bearish momentum continues. Conversely, any upward correction may be capped by the resistance at $6.00710, and only a sustained move above this level might negate the bearish outlook.
LEO/BTC Price Analysis
The LEOBTC chart indicates a bullish direction. The price recently bounced off the support level at 0.00009070 BTC and is heading towards the resistance at 0.00011000 BTC.
The Simple Moving Average (SMA) at 0.00009810 BTC is currently below the price, reinforcing the upward momentum. The Stochastic Oscillator, with %K at 3.84 and %D at 12.59, is in the oversold region, suggesting potential upward movement as the pair gains buying interest.
UNUS SEO LEO (LEO) Current Statistics
The current price: $5.84620
Market Capitalization: $5,400,000,000
Trading Volume: $766,950
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