LEO/USD

LEO/USD

Gate Trade LEO Thursday, April 9, 2020 389 0

The failure of the bulls to sustain Unus Sed Leo (LEO) above $1.04 attracted selling on April 7. The altcoin dipped to an intraday low of $0.991, which triggered our suggested stop loss on the long positions at $1.

 

Though the LEO/USD pair rebounded off the 50-day SMA ($0.994), the bulls are struggling to push the price back above $1.04.

If the pair turns down from the current levels and breaks below the 50-day SMA, a drop to $0.955 is possible. Conversely, if the bulls can scale the overhead resistance at $1.057, a new uptrend is likely