LEOUSD Ready for an explosive rally.Unus Sed Leo (LEOUSD) has been trading within a Channel Up for the entirety of its current Bull Cycle. Lately it has been trading sideways since the August 11 High, but still strongly supported by the 1W MA50 (blue trend-line).
This level has been the Cycle's major Support since September 2023 (2 years) after which it never closed a 1W candle below it. As long as it holds, we expect at least another +72.88% rise from the recent Low, similar to both previous Bullish Legs of the Channel Up, which gives a 14.000 long-term Target.
That is just below the 2.382 Fibonacci extension from the previous Cycle High, which is the level that Leo token reached during the previous Cycle. As you can see, it also consisted of a Channel Down (Bear Phase) and Channel Up (Bull Phase), but exploded in its final weeks more aggressively.
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Leosignals
LEOUSD Triple bullish test ahead. Maybe the best opportunity.It has been a (very) long time since we last looked at LEOUSD. In fact it has been since February 05 2022 when we accurately projected the Fibonacci Target Zone with its All Time High (ATH) coming just 3 days later:
As the price is rebounding and hit the 1D MA50 (blue trend-line) again so quickly after the dump 2 weeks earlier, it is about time to look at LEO's enormous buy opportunities. First of all, while the price has been on Lower Lows since September 24, the 1W RSI has been on Higher Lows, indicating a strong Bullish Divergence. Secondly, the November 09 Low was made exactly on the Fibonacci 1.0 level, which was the top of the previous Buy Zone (0.0 - 1.0).
There is a Triple Resistance barrier ahead. First it is the Lower Highs trend-line since the September 01 High (dashed line). A break above should most likely target the 1D MA200 (orange trend-line) for the first time since also September 02 and that can lead to the ultimate Bear Cycle test of the Lower Highs trend-line by the February 09 2022 All Time High.
Failure to break that, will keep LEOUSD within the 1.0 - 2.0 Fibonacci levels, i.e. our new Buy Zone, that will inevitably break the February Lower Highs early in 2023. A break above it before though, can kick-start an aggressive medium-term rally, the first into the new Bull Cycle, targeting the 3.0 Fib. In both cases, LEO is at levels where long-term investors should consider buying.
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LEO is doing what LEO does.LEOUSD is having one of its best weeks, so far reaching a +63% rise. Since the March 2020 market bottom, it has been rising parabolically smashing every Fibonacci extension after the other. Yesterday the price came near the Fib 5.0 extension as it did on the May 13 2021 High.
A similar rise (+58%) was done in February 2021. If Fib 5.0 breaks, the target should be the Fib 6.0 extension. If not, a pull-back will be required back to the 1D MA50 (blue trend-line) in order to confirm a new Higher Low. This could be on the prior All Time High and former Resistance.
Undoubtedly, LEO seems one of the best long-term investments in the market.
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