UNUS SEO LEO (LEO/USD) Market Fails to Break Out of the Consolidation Zone
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UNUS SEO LEO Price Prediction – May 22
LEO/USD market fails to break out of the consolidation zone. The price keeps ranging within the zone as it converges into a triangle pattern.
The major correction from $6.0100 currently lingers as the bulls remain incapable of driving the price upward. While the price clearly rallies, as indicated by the MA Cross, the buying momentum is unimpressive. Apparently, the $6.0070 resistance is causing a repulsive move in the bears’ favor. As the struggle between the bulls and the bears persists, the projection of the impending breakout of LEOUSD is bidirectional.
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 LEO/USD daily chart showcases that the price has failed to break out of the consolidation zone.
In June 2023, the price experienced an upward expansion, which led LEOUSD beyond $3.6100. The upward expansion continued until the price hit the previous resistance of $4.3500.
The market kept consolidating for a long time until a CHoCH occurred in December 2023. The CHoCH caused a massive surge to the upside.
When is LEOUSD likely to resume its bullish trend?
Owing to the rally from the CHoCH in December 2023, the price headed upward until the supply zone at $6.1900 was reached. A major correction began afterwards. The correction is yet to end as the price fails to break out of the triangle pattern.
As indicated by the Stochastic Oscillator, the market is now overbought. This implies that a decline is imminent. However, the bullish trend is likely to resume after a sell-side liquidity grab below the consolidation’s trading range.
LEO/BTC Price Analysis
LEOBTC has jerked downward. This followed the formation of a lower high on May 10, 2024. Owing to the formation of the lower high, more bears stormed the market, causing an invalidation of the diagonal support.
The current trading range of LEOBTC is between 0.0001040 swing high and 0.0000680 swing low. The decline is likely to continue until the bullish order block in the discount zone of the trading range is reached.
UNUS SEO LEO (LEO) Current Statistics
The current price: $5.9490
Market Capitalization: $5,550,000,000
Trading Volume:$2,450,000
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