- Even with BTC dominating the every day value chart, the LEO value is as soon as once more trending in a downward course.
- The crypto asset is transferring under the 20, 50 and 100 days transferring common.
- The LEO/BTC pair is at 0.0002099 BTC with a lack of 1.60%.
The iFinex ecosystem makes use of the utility token UNUS SED LEO. The uncommon identify is derived from a Latin citation from a narrative by Aesop. A token burn mechanism means iFinex is dedicated to shopping for again UNUS SED LEO from the market on a month-to-month foundation.
The LEO value tried to collect its bulls, however the bears are bothering the restoration course of and now, the value is as soon as once more transferring underneath the bearish dominance over the every day value chart. This signifies the bulls weren’t ready for this backfire and to make the restoration course of a steady one the coin wants to appeal to extra consumers. Besides the BTC domination, the LEO bears are nonetheless pushing the value which is a matter of concern for the buyers at the moment.
The present value for one LEO token is 5.15 USD which is at an insignificant lack of 0.26% in its market capitalization within the final 24 hrs. The token has a buying and selling quantity of three.3 million which is at the moment at a lower of 4.72% within the 24 hrs buying and selling session and has a market cap of 4.9 billion. The quantity market cap ratio is 0.0006713.
Will Bulls Reverse this Trend?
While analyzing the chart for brief time period (4 hrs) we noticed the bullish efforts over the token, this can be a results of the BTC domination because the BTC value crossed the mark of 24K.
The MACD indicator is exhibiting the domination of bears because the MACD sign line is transferring above the MACD line which is now being opposed because the consumers are attracting again to the token which could be noticed over the shrinking histograms. The relative energy index is driving over the bulls and transferring in direction of the higher area. The RSI worth will shortly be equal to 50.
Conclusion
The LEP value is as soon as once more transferring underneath bearish dominance even after the BTC domination over the every day value chart. The LEO bulls tried to make a reversal however their efforts weren’t adequate. The buying and selling quantity is at a lower of 4% which bulls want to deal with. The hourly chart says the consumers are discovering this dip a gateway to make an ideal entry to the market and if these efforts stay constant then a pattern reversal is close to.
Technical ranges
Resistance ranges: $5.22 and $5.28
Support ranges: $5.12 and $5.04
Disclaimer
The views and opinions said by the writer, or any folks named on this article, are for informational concepts solely, and they don’t set up the monetary, funding, or different recommendation. Investing in or buying and selling crypto property comes with a threat of economic loss.
