LEO, the altcoin, has seen an increase in its price by over 3% in the last 24 hours, according to CoinMarketCap. At present, LEO is trading at $3.57, representing a 3.42% increase. In addition, the cryptocurrency has performed well against the two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), with a 6.37% and 6.95% increase, respectively. It is expected that LEO will set a new daily high before the end of the trading session as its price is currently trading close to its 24-hour high of $3.58. The total daily trading volume for LEO has also increased by 2.32% in the last 24 hours, reaching $648,303 at present.
LEO’s price has broken above the key resistance level of $3.478 in the last 24 hours and attempted to break the resistance level of $3.584. Although it managed to break above the $3.584 mark, it was unable to convert the level into support and has since pulled back to trade below the level at present. Technical indicators on LEO’s daily chart suggest that the altcoin’s price has entered a short-term bullish cycle, with the 9-day EMA crossing bullishly above the 20-day EMA last Wednesday. Additionally, the daily RSI for LEO is trading above the daily RSI SMA and is sloped positively towards overbought territory at present. This suggests that LEO’s price will rise in the next 24-48 hours. If LEO’s price closes above $3.584 today, then the bullish thesis will be validated, and LEO will aim to rise to around $3.68.
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