UNUS SED LEO Price Prediction: LEO/USD Retraces Below $3.95 Level
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UNUS SED LEO Price Prediction – December 23
The UNUS SED LEO price prediction indicates bearish momentum as further upside got rejected and bullish momentum has been lost.
LEO/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $4.30, $4.40, $4.50
Support Levels: $3.55, $3.45, $3.35
At the time of writing, LEO/USD is hovering at $3.19. There have been instances when LEO has exchanged hands below $3.80 sustaining the bearish price action is a downhill task. At the time of writing, the path of least resistance is still ranging and the daily chart shows that the formation of a bearish may come into play.
UNUS SED LEO Price Prediction: LEO Fails at Crucial Resistance
According to the daily chart, the UNUS SED LEO price is not yet done with the upside but despite the drop suffered today, the 9-day moving average is seen crossing above the 21-day moving average. This could mean that there may still be room that could be explored by the bulls as the UNUS SED LEO price may begin to follow the uptrend in as much as it remains above the 9-day and 21-day moving averages.
On the upside, recovery may not come easy as the support will have to be sorted for below the moving averages. Meanwhile, a sustainable move toward the upper boundary of the channel could locate the resistance level of $4.20, which may allow for an extended recovery towards the $4.30, $4.4.0, and $4.50. However, an increase in selling pressure across the market could force the UNUS SED LEO price toward a painful path and through various tentative supports at $3.55, $3.45, and $3.35.
LEO/USD Medium-term Trend: Ranging (4H Chart)
On the 4-hour chart, the UNUS SED LEO price is now trading above the 9-day and 21-day moving averages. LEO/USD has just survived the $3.90 support as the market is trying to recover from the bearish momentum. However, LEO/USD is likely to return to the bull market if the price breaks above the upper boundary of the channel.
On the other hand, the 9-day MA remains above the 21-day MA and if the bearish movement steps back, the support level of $3.90 may not be able to hold the selling pressure. Moreover, LEO/USD is likely to fall to the support level of $3.65 and below if the price slides below the lower boundary of the channel.
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