UNUS SED LEO (LEO/USD) Market Maintains A Bullish Outlook After Short-term Retracement
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UNUS SED LEO Price Prediction – October 17
LEOUSD market maintains a bullish outlook after a short-term retracement. Owing to the overbought state of the market, a decline, though for a short time, is expected.
The indicators on the LEOUSD chart signal a continuation of the bullish trend once the ongoing correction phase ends. The price is currently hovering around $6.070, slightly below the 9-period simple moving average (SMA) at $6.050. The Relative Strength Index (RSI) is at 60.51, indicating mild bullish momentum.
LEO/USD Market Key Levels:
Resistance levels: $6.190, $6.500, $6.800
Support levels: $5.900, $5.390, $5.100
LEO/USD – Daily Chart
The daily chart for LEO/USD reveals that the market has begun a short-term decline to the downside.
From a price action perspective, LEOUSD recently broke above a previous resistance at $5.900, following a change of character (CHoCH). However, the price is pulling back, approaching the newly flipped support around $5.900. A sell-side liquidity grab is likely to occur before the price resumes its overall bullish trend.
What is the projection for the LEOUSD market?
Projection-wise, if the support at $5.900 holds, the price is expected to initially rally towards $6.190, then to $6.500. These are significant resistance zones based on previous price actions. The bullish scenario would be invalidated if the price closes far below the $5.960 swing low, where further downside could extend toward $5.390.
LEO/BTC Price Analysis
LEOBTC is in a bullish setup, currently trading near support around 0.00008670 BTC after a slight retracement. The RSI suggests a potential reversal upward.
If the price holds at this support level, it could push toward the 0.00009660 BTC resistance. A breakout above this zone may lead to further gains, targeting 0.00010640 BTC.
UNUS SEO LEO (LEO) Current Statistics
The current price: $6.070
Market Capitalization: $5,680,000,000
Trading Volume: $13,530,000
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