- Unus sed leo price is currently trading at $3.55 with an increase of +0.83% during the intraday session.
- The 24 hour trading volume of leo is up by 10.60%.
- Leo price crossed 20,50 and 100-day EMAs positively but still resides below 200-day EMA.
Unus Sed Leo, created by ifinex, the group behind the major cryptocurrency exchange bitfinex. The utility on bitfinex platform and its scarcity as a currency contribute to its value. In the last ten days, Leo price is up by approximately 4%.
On april 26, Leo price rejected $3.637 level leaving a long wick to upside and the current candle is headed towards the filling of the wick. The major target for price is at $3.75 which can be achieved if bullish momentum prevails in the market. During last week, Leo trading volume increased by 1.85% due to increased buying pressure in the market. Leo price has seen a strong downfall after making a high at $8.14 during february 2022. The crypto currency is down almost 56% from the highs.
Bitfinex also received an “A” grade from CCdata which has positively impacted the value of Leo. The Hong Kong based exchange is committed to providing a safe place for the buying and selling of crypto and has recently become the first exchange platform to receive a Digital asset service provider licence in EL Salvador. Companies from all over the globe will be able to issue a broad range of assets including equities, bonds and other financial instruments via Bitfinex now.
Bitfinex would now be able to issue cryptocurrencies and offer trading within the country. El Salvador became the first country to adopt bitcoin as legal tender. Leo fundamentals are getting strong which will help in driving Leo price higher.
UNUS SED LEO Technical Analysis:
.RSI trades at 61.65 indicating bullish momentum in the market and median line is acting as support for RSI. Traders should be aware of the major resistance levels as price will soon reach the overbought region and might receive a pullback. The LEO price touched the upper band of bollinger and received a small pullback to form a support at $3.50 level and again started to rise. The bollinger bands have expanded showing a high volatility period in upcoming days. Even though the price has formed a bullish structure, the chaikin money flow is still at -0.26 showing bearish pressure on the price. There is still weakness left in the market on the higher time frames while the lower time frames are slowly turning bullish.
Conclusion:
LEO fell heavily since the start of 2022 and has started to show signs of recovery as bulls increase participation in the market. The market structure and price action shows signs of bullishness in the market. The technical parameters are indicating a bullish momentum and a chance of pullback in upcoming days. The news events around Unus Sed Leo are positive which have generated positive sentiment around Leo price.
Technical Levels:
Major support: $3.50 and $3.34.
Major resistance: $3.73 and $3.86.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.