- LEO Tokens technical summary reveals a neutral signal for the coin price.
- The LEO Token (LEO) MACD line is near the zero line.
- The token price has been consolidating from the previous year.
LEO tokens can be traded on several centralized cryptocurrency exchanges. Bitfinex stands out as a popular choice for acquiring and trading LEO Tokens, with the LEO/USD trading pair witnessing significant activity. For those interested in LEO Token transactions, alternative exchange options such as LBank and ProBit Global are also available.
The current trading price of LEO coin is $3.73, reflecting a modest 0.4% increase in today’s market session. With an average trading volume of 26k and a total circulating supply of 929 million coins, the LEO coin has shown a nearly -9% return in the previous period, signifying a phase of consolidation.
According to TradingView’s technical summary indicator, the LEO coin is currently showing a neutral signal. Among the 26 indicators, 9 give a sell signal, while 8 provide a buy signal, indicating that the coin is likely to continue consolidating.
The price of LEO tokens reached a high of $8.14 in February 2022 but has since been on a consistent downward trend. By March 2023, the price had fallen by 55%. However, it found support at the $3.3 level, resulting in a 26% price increase. Unfortunately, this upward movement was short-lived, and the price resumed its decline.
These price fluctuations have resulted in the formation of a parallel channel in the market, with the current price hovering near the support level. A broader analysis of the weekly timeframe reveals an overall fragile pattern, increasing the likelihood of further price declines in the days ahead.
LEO Token (LEO) Technical Analysis
LEO by writer50_tcr on TradingView.com
The RSI line for LEO is currently hovering near the 50 level, indicating a neutral region and further suggesting price consolidation in the upcoming days.
Additionally, the MACD line and the Signal line are close to the zero line, with both lines overlapping each other. It signifies a lack of clear momentum, and the price needs to break decisively in either direction to provide confirmation
Conclusion
In conclusion, LEO Token (LEO) is currently moving inside a range. Furthermore, the indicators are giving a neutral signal along with the no huge momentum by the price in the previous year. Thus, considering this it can be predicted that the price is like to consolidate in the given range and the price needs to break either side to give trend confirmation.
Technical Levels
- Support Level: $3.3
- Resistance Level: $4.05
Disclaimer
The views and opinions of the author or anyone in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
