UNUS SED LEO (LEO/USD) Market Closes Below Consolidation Range
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UNUS SED LEO Price Prediction – June 12
The LEO/USD market closes below consolidation range. Following several consolidations below $6.0100 resistance, the price recently experienced a crash with a bearish marubozu candlestick on the daily chart.
The resistance level around $6.50 remains untested since the consolidation phase began. The MACD (Moving Average Convergence Divergence) indicator at the bottom of the chart shows a slight bearish divergence, with the MACD line crossing below the signal line. The recent CHOCH (Change of Character) around the $5.7600 level and subsequent formation of an Order Block (OB) further suggest that more decline is imminent.
LEO/USD Market Key Levels
Resistance levels: $6.0100, $6.1900, $6.5000
Support levels: $5.1700, $4.3500, $3.6100
LEO/USD – Daily Chart
The daily chart for LEO/USD indicates that the price is set to begin a new trend in the downward direction.
A clear uptrend began in mid-February 2024, with the price climbing from around $3.60 to a peak of approximately $6.50 by late March. This sharp increase is followed by a period of consolidation, where the price moves sideways in a relatively tight range. The consolidation phase appears to be forming a symmetrical triangle pattern, indicated by converging trendlines.
What is the potential direction for LEOUSD market?
The recent breakout established by the bearish marubozu candlestick signals the presence of the bears in the market. As the price returns into the bearish order block, a massive crash is likely to occur soon.
LEO/BTC Price Analysis
The overall trend of LEOBTC is bullish. The market’s trading range currently lies within the $0.0000680 support and $0.0001040 swing high.
At the 61.8% Fibonacci retracement level, the market bounced back to the upside. The uptrend is expected to continue as price returns from the bullish order block in the discount zone.
UNUS SEO LEO (LEO) Current Statistics
The current price: $5.91350
Market Capitalization: $5,480,000,000
Trading Volume: $2,480,000
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