UNUS SED LEO (LEO) is currently showing signs of recovery, despite its recent decline from its all-time high of $5.26. The price has found support at $3.52, but the battle between bulls and bears has caused a drop in price. At the time of writing, LEO is trading at $3.71, reflecting a 0.38% decrease in the past 24 hours.
The struggle between bulls and bears has resulted in a tug-of-war situation for LEO’s price. The $3.52 support level has been strong for the bulls, allowing them to regroup and push the price towards the upper boundary of the descending triangle. However, the bears have taken advantage of this resistance and pushed prices downward.
LEO’s price remains below the 200-day moving average, indicating bearish control. However, the crossing of the 50-day moving average suggests a short-term bullish outlook. The relative strength index (RSI) is around 59, indicating neutrality but with potential for overbought conditions if bullish sentiment persists.
Based on this analysis, LEO is likely to experience a short-term bearish downturn towards the $3.23 level. However, if the price breaks above the 200-day moving average, it could provide an opportunity for bulls to target the $4.2 resistance level.
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Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
