LEOcoin has drastically dropped from where it closed yesterday at $1.1419 and is now changing hands at $1.1250. The downside pressure seemed to have gained support from the moving averages that are now suggesting a bearish sign. This is since the long-term SMA (A) has been gravitating above the short-term SMA (B) over the last 24hrs.
Leo cryptocurrency has, therefore, swayed down by 1.7% over the intraday that weakens investor’s sentiments. The RSI indicator (C) is at the press time trading below level 40 that gives no sign of price recovery. Thereby, a further downside move is anticipated.
Currently, all the moving averages are trading above the candles that signal an increase in bearish pressure. If the pair’s price break above the $1.223 critical support level then a downward rally near $1.0900 is likely.
LINK/USD pair, on the other hand, has also underperformed, with the bears dominating the market momentum over the last 24hrs. The price decline was clearly indicated by the moving averages that switched from the bullish sign to the bearish sign. Afterwards, LINK/USD price escalated from $1.9212 to $1.8012 approximating to 6.24% dip over the last 24hrs.
The coin showed no interest in the higher price levels; instead, a massive decline was seen that breached the key resistance near $1.8904 and support near $1.8319.The RSI also showed a significant dip having moved from the overbought region to almost the oversold territory. The downside pressure thereby signifies that sellers are running the market at a stronger pace.
A further downside correction is likely since the long-term SMA is now above the short-term SMA. A decline near $1.5500 should be expected.
Despite the bearish nature contrary NEO/USD pair has gained by 1.11$over the last 24hrs. Additionally, the price has been fluctuating on a sideways movement between $9.3645 (A) and $9.1558 (B) levels, respectively, on an intraday chart.
The pair’s price escalated from $9.0546 to 9.1558, but a downside correction is likely since most indicators have given a bearish sign. The RSI indicator is now heading north that signifies a reduction in buyouts and the moving averages are currently suggesting a downside correction. Besides, investor’s sentiments are likely to decrease further.
If the bears succeed to break below $9.0494, then a further decline near $8.5000 may be encountered.
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Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
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