Regardless of the bearish sentiment within the crypto market, the UNUS SED LEO (LEO) coin has prolonged its six-day bullish streak and hit the intra-day excessive round $5.82 stage amid continued community progress. Regardless of the continuing crypto market stoop, LEO exhibits indicators of energy and has gained extra optimistic traction across the $5.80 stage.
The iFinex ecosystem makes use of the UNUS SED LEO utility token. Utilizing a token burn mechanism, iFinex is dedicated to repeatedly repurchasing US SED LEO from the market. The quantity acquired and burned represents a minimum of 27% of iFinex’s earnings, and tokens are additionally bought at market worth.
The token burn mechanism will see iFinex purchase again UNUS SED LEO from the market equal to a minimal of 27% of consolidated revenues of iFinex.
The burn mechanism will proceed till 100% of $LEO tokens have been redeemed and no extra tokens are in circulation.
— Bitfinex (@bitfinex) June 14, 2019
Consequently, one of many most important components supporting LEO’s bullish pattern is the community’s distinctive options. Moreover, the employees’s dedication to the corporate’s targets is anticipated to make sure UNUS SED LEO (LEO) Coin’s future success. In the meantime, trusted know-how and privateness securities had been different necessary components in sustaining its good picture amongst buyers.
UNUS SED LEO Value Updates & Tokenomics
The worldwide crypto market worth fell 2.09 % within the final 24 hours to $975.54 billion, placing the cryptocurrency market in a downward pattern because the begin of the brand new month. Consequently, the bearish crypto market might restrict the UNUS SED LEO (LEO) Coin’s acquire. The present stay worth for UNUS SED LEO is $5.82, with a 24-hour buying and selling quantity of $4.3 UNUS SED LEO has misplaced 6.99% within the final 24 hours after gaining over 12% within the final seven days.
UNUS is now ranked seventeenth, with a market capitalization of USD 5,553,014,230. There are 953,954,130 LEO cash in circulation, with no info on the utmost provide.
LEO Underneath Stress amid Bearish Crypto Market
The cryptocurrency market has misplaced cash because the begin of the brand new month, with the entire market capitalization of all cryptocurrencies falling by 2.09 % to $975.54 billion. Quite a few cryptocurrencies skilled important worth drops, together with the world’s largest cryptocurrency, Bitcoin (BTC), in addition to Ethereum (ETH), XRP, Cardano (ADA), Solana, and meme coin Dogecoin (DOGE).
Consequently, it was decided that one of many major points stopping future developments within the UNUS SED LEO (LEO) Coin was the dramatic lower within the worth of cryptocurrencies.
US Nonfarm Payroll Underneath the Highlight
The sturdy US greenback additionally restricted the positive aspects made by digital cash resembling UNUS SED LEO (LEO) Coin. Buyers started making ready for rising US rates of interest, propelling the broad-based US greenback greater. Moreover, the safe-haven US greenback benefited from the risk-off market sentiment, which tends to extend demand for safe-haven belongings such because the US greenback.
Later immediately, buyers will deal with the US nonfarm payroll, which can affect the worth of LEO and different altcoins. In accordance with Dow Jones, the financial system is anticipated to have added 318,000 jobs in August, down from a startling 528,000 in July. The unemployment charge is anticipated to stay at 3.5% this yr, with common hourly wages rising by 0.4% or 5.3%. So let’s keep watch over it to see how the market reacts subsequent.
UNUS SED LEO Pumps 12% – Technical Outlook
Through the week, LEO displayed a robust bullish bias, reaching a excessive of $5.89. However, the triple high sample acted as a stable resistance and pushed LEO decrease. Consequently, the LEO/USD pair has dropped practically 7% in 24 hours.
LEO/USD Value Chart – Supply: Tradingview
On the draw back, LEO is more likely to discover quick help on the $5.400 stage, and a break under this stage might ship LEO costs even decrease to the $5.02 help space. As a result of the RSI and MACD indicators point out a bullish pattern, we might even see a bounce off above the $5.30 help zone.
That mentioned, LEO’s quick resistance stays at 5.89, and a break above this might lengthen the uptrend to $6.23 and $6.45.Good luck!
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