LEO Crypto Appears Geared for Upside; Can Its Price Boost Next?

By Thecoinrepublic.com
3 months ago
BOOST RES APRIL LEO LEO

In the LEO crypto, the price was in a consolidating range between $3.50 and $4.20, which has demonstrated a tough battle between bulls and bears. The bears lost their ground in the last week of April 2024, and bulls gained attraction on the daily chart, which led the price to fly solidly up to the $6.20 price mark.

However, the price resisted at the top price level, failing to exceed the supply. Instead, it started consolidating in a range. Furthermore, the price developed a quick pullback in the first week of April, which was a sign of a liquidity grab on the chart.

Since the LEO price is above the $5.50 support level, the 20-day and 50-day EMA bands’ dynamic support bands make the crypto bullish. Likewise, the MACD has started converging, and a bullish cross is anticipated next, as the MACD line is at 0.033, and the signal line is at 0.0505. The RSI is above the median line, which has crossed the 14-SMA line from below, thus indicating bullishness in the UNUS SED LEO asset.

At press time, the LEO crypto is trading at $5.92, with a decline of -1.30% on an intraday basis. However, the price structure stays bullish, and if potential buyers’ interest increases, the price might reach above targets of $6.50 and $7.0.

In contrast, there lies one more possibility for the downside. If the price deteriorates below $5.50, it could also fall further.

The correlation between the growth of LEO’s price and volume, with respect to Twitter followers (X)

The volume analysis shows that the LEO cryptocurrency has received $1.74 Million in volume, which is 28.78% more than the previous day. The price vs. LEO Volume chart describes a surge in volume along with the price rise, suggesting the continuation of the ongoing trend in the UNUS SED LEO crypto asset.

The UNUS SED LEO cryptocurrency has witnessed a notable surge in active users and Twitter conversations(X), along with a consistent rise in its followers. It suggests that the popularity of LEO crypto is on the rise.

The increasing number of tweets mentioning LEO (UNUS SED LEO) highlights its inclining growth and shows that it has been among the trending tokens of recent times. 

Active Addresses Have Started Rising In LEO Crypto

The active addresses in LEO crypto represent the actual number of users who have conducted transactions in a given period. A higher number of transactions is preferable for LEO investors as it indicates more liquidity, whereas a lower number represents less liquidity.

Between December 2023 and April 2024, the LEO chart displays the number of 24-hour active addresses and 7-day active addresses that have fluctuated. The number of active addresses dropped initially in March 2024, but it started to rise again in the second week of April 2024. 

Meanwhile, on April 10th, 2024, the number of 24-hour active addresses was 10, but it recently increased to 26 active addresses. Similarly, the 7-day window showed 38 active addresses on April 10th, 2024, but it increased to 58 recently.

Summary

The price of LEO crypto ranged between $3.50 to $4.20, with a battle between bulls and bears. Bears lost ground in late April 2024, leading to a price surge to $6.20. Resistance at this level caused consolidation. Price support at $5.50 and positive indicators suggest bullishness. The recent volume increase and social media activity indicate growing popularity. Active addresses fluctuated but have been increasing recently. The current price is $5.92, with the potential to reach $6.50 or fall below $5.50.

Technical Levels

Support Levels: $5.50

Resistance Levels: $6.50

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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