Today, the cryptocurrency market has been very volatile with Bitcoin (BTC) dropping to $62,000 and pulling down Ethereum (ETH) and other altcoins. This selloff has been triggered by the upcoming U. S. PCE inflation data and monthly options expiry that has contributed to the market volatility. The latest survey shows that the net worth of investors has declined by $160 billion in the past week as the greed index has dropped to the neutral level.

Ethereum has also not been left out as the price is currently down 18.15% from its value at the beginning of the year.The correction has taken ETH below key support levels and the current bearish sentiment in the market may push ETH down further. The next U. S. PCE inflation rate and options expiration are the events that traders are focusing on. ETH could be headed to lower support levels in the next few days if the bearish trend persists. 

UNUS SED LEO Market Sentiment and Price Movement 

Currently, LEO is trading at $5.78, which proves its stability. The bulls have managed to hold key support levels and the asset is trading above the 20-day Exponential Moving Average (EMA), which points to the bulls’ dominance. The Aroon indicator is also bullish with the Aroon up at 92.86% and the Aroon down is at 14.29% which shows that LEO is in an upward trend. 

From the 1-day , LEO is trading above the key EMAs, which suggests that the token is bullish in the short term. The MACD indicator also points to the continuation of the upward movement as the MACD line goes above the signal line. The Relative Strength Index (RSI) is at 47. 43, which means that the market sentiment is neutral, meaning that it is not overbought or oversold at the moment.

LEO’s ability to sustain its price above the $5.70 level is an indication that it is well positioned in the market. The trading volume has gone up and this shows that there is more interest in the stock and more room for further appreciation if the market outlook is positive. 

The first level of resistance to look out for in LEO is at $5. 84, then a stiffer resistance at $6.00. If these levels are crossed, LEO could set its sights on achieving even better results. On the flip side, the first level of support to look at is at $5. 70, the 50-day EMA at $5. 81. A break below these levels could lead to a deeper correction.