LEO has rallied significantly within the past few days, yet it is still within the reach of further upside gain. Precisely, this crypto has moved from around $4.700 to $5.400. However, there has been a price correction of nearly 31.4% downwards, nevertheless, after plus and minuses the recorded gain since the initial stage till now is still significant. However, we need to take a close examination of what this market holds for traders that are entering this market.
LEO’s Forecast Statistics Data:
LEOs Current Price: $5.1818
LEOs Market Capitalization: $4.97 billion
LEOs Systemic Supply: 953.95 million
LEOs Overall Supply: 985.2 million
LEOs Coinmarketcap Position: #19
Key Levels:
Resistance: $5.1000, $5.2000, $5.4000
Support: $5.1818, $5.0900, $4.9000
LEO/USD Price Corrects, as Tamadoge Makes Plans To Start Well
LEO/USD price had rallied significantly before it bounced off $5.4000 and made a minor correction. However, attempts were made by the bulls to take UNUS SED LEO price higher, but they were too exhausted at this point. Furthermore, on this chart, it could be seen that the 9/22 days EMA is still under the price action. Also, these lines are very close to each other and additional buying pressure will push prices higher, as these lines will cross each other once more.
Although the Stochastic RSI indicator curves point downwards to indicate a minor correction, currently they are bending towards each other. An eventual crossing of these lines will initiate an upward reversal. Consequently, LEO bulls may regain strength and take the price higher. Traders can place buy orders for around $5.2200.
LEO Price Analysis: LEO/USD Appears to have commenced an Uptrend
On the LEO/USD 4-hour chart, it can be perceived that price action is bullish. The last two candles on this UNUS SED LEO chart portray Bullishness in the market. In addition, the Stochastic RSI indicator is telling that price movement is also gathering strength gradually. This is because the lines of this Indicator have reached the oversold area and have made an upside facing cross. Consequently, this indicates that the price is set to rise further higher.
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Nevertheless, should selling pressure increase at this point, this may create a setback for the upcoming trend. Furthermore, it is logical to anticipate that more selling may occur here as some traders may want to take profit from here. Therefore it will be safe to place a stop at around $4.850, so if a downtrend resumes one will exit with significant profit.
Tamadoge is also securing strategic listings on centralized and decentralized exchanges as part of its roadmap. The first listing has already been secured on LBank. LBank is a centralized exchange, and the Tamadoge team is optimistic that TAMA could be paired with ETH to support the projects rapid growth as it faces improved liquidity.
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