UNUS SEO LEO (LEO/USD) Market Sets To Break Out
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UNUS SEO LEO Price Prediction – May 8
The LEO/USD market is set to break out of the triangle pattern. The consolidation within the triangle pattern began after a crash that led to a sell-side liquidity grab below the $5.670 low.
Amidst the consolidation, the overall direction of the market remains bullish. As per the indication of the MACD (Moving Average Convergence Divergence), the bullish trend is set to commence soon. The major correction and consolidation lasted for one month. The correction and consolidation were likely a result of the selling pressure present at the $6.190 supply zone.
LEO/USD Market
Key Levels:
Resistance levels: $6.010, $6.190, $6.500
Support levels: $5.170, $4.350, $3.610
LEO/USD – Daily Chart
The LEO/USD daily chart showcases that the UNUS SED LEO market is set to break out to the upside from the triangle pattern.
The ongoing bullish trend of LEOUSD began after a CHoCH (Change of Character) at $3.970 to the upside. A sell-side liquidity grab followed, which eventually engineered a massive rally out of the discount zone.
Due to the increased buying influx, the price kept soaring until the major resistance at $6.190 was met. The major resistance caused LEOUSD to sink lower until a sell-side liquidity grab below the $5.670 low.
At what price level will LEOUSD experience another major correction to the downside?
The market recently ended a major correction after a month. The major correction was characterized by a pullback at $6.190 major resistance and a consolidation within a triangle pattern.
The price seems to have made a successful breakout from the triangle pattern. According to the MACD, the bullish trend is set to resume as the histogram crosses above the zero line. The impending rally is likely to end at the next major resistance level of $6.500.
LEO/BTC Price Analysis
The market environment in the UNUS SED LEO market is currently bullish against Bitcoin. However, the major high at 0.0001060 is yet to be invalidated.
The retracement towards the diagonal support has just been concluded. The price is currently heading upward, probably to make a break of structure at 0.0000960. After the invalidation of the 0.0001060 major high, LEOBTC is expected to continue upward for a long time.
UNUS SEO LEO (LEO) Current Statistics
The current price: $5.900
Market Capitalization: $5,480,000,000
Trading Volume:$2,450,000
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