Monero And Leo Price Analysis: Tokens Bullish, Target 4% Growth
Monero and LEO maintained their bullish stance over the last 24 hours. The coins registered above 4% growth. Near Term Technicals for both the coin pointed towards bullish price action. With buyers coming to the rescue for both the token, the coins broke above their immediate resistance line.
Over the last week, XMR and LEO projected substantial returns. Despite the high fear index, these coins have displayed increased buying pressure. At press time, XMR was priced at $223.68, and the LEO token was trading at $3.77.
Monero/XMR/USD Four Hour Chart
Monero had appreciated over 6% in the last 24 hours, right after the coin dipped on December 27. Overhead resistance for the coin stood at $234.23, while the support line rested at $223.55.
If buying pressure remained consistent, XMR might try to topple over the $234.23 mark. However, as mentioned above, that level has acted as a full-price ceiling. Monero had attempted to move above the resistance mark again this month.
On the four-hour chart, XMR’s price was above the 20-SMA, which meant that buyers dictated the price momentum for the coin.
The Relative Strength Index also noted an uptick, which signaled an increasing buying strength in the market.
MACD underwent a bullish crossover as it displayed green histograms at the time of writing. In case of a price reversal, the altcoin would find itself trading near the $223.55 mark, falling beneath which the next price floor stood at $199.08.
LEO/USD Four Hour Chart
LEO was exchanging hands at $3.77 with an overhead resistance of $3.84. LEO was parked above the 20-SMA line on the four-hour chart, indicating that buying pressure was increasing in the market.
Technicals hinted that the coin could attempt to break over the immediate resistance mark as the 50-SMA line broke over the 20-SMA line, indicating bullishness. LEO was trading within an ascending channel which suggested that the coin was quite bullish at the time of writing.
The Relative Strength Index had shot up and was near the overbought zone. This marked a multi-week high for the indicator. On Balance Volume was on the rise, suggesting that the coin had been experiencing an increasing buying strength. A fall in the buying volume could cause the token to trade at $3.75 and then at $3.57.
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