In this article, I will talk about the realistic price action of the LEO Token and the price possibility of reaching 1$ . This analysis will be based on few factors and will be the rough estimation. Please, Pardon for the margin error of the few percentage. I will also be sharing the way I look the things so that, you can also learn or take reference for seeing the particular market or an asset class. And Don't expect: Demand will increase , and we will hit 1$ type of explanation. XD. You can skip to the exact portion as the table of contents are:
DISCLAIMER:
NOTHING SAID HERE IS FOR LURING OR ASKING YOU TO INVEST OR BUY THE MENTIONED COIN OR TOKEN. USE YOUR OWN BRAIN FOR YOUR OWN MONEY. ALTHOUGH MY WORDS MAY FEEL APPEALING, TAKING THEM AS RECOMMENDATION IS STUPIDITY.
The first thing to look before making the price prediction is the psychological level and the tokenomics of the project.
For the LEO TOKEN, 1$ mark seems the psychological level and according to my experience in the LEO FINANCE for a while, I have realized that 1$ is the mark most of the people are looking for. I will discuss more about according to the past price history in the technical section where I will talk about the huge sell off.
The current circulating supply of the LEO TOKEN is around 7.5MILLIONS. The current market capitalization is around 2.243 Millions. For a innovative project like LEO, the number seems pretty small and if we go through the possibility of price reaching 1$ .
If the price of the LEO reaches 1$ , the MARKET CAP will be only 7.5 Millions.
Taking this mathematics into the consideration, even if the LEO comes above the 10Million market cap, the price can conquer the 1$ mark and can sustain over it. If you think that the LEO TOKEN is worth 10Million in future then, for you 1$ price will seems realistic and so for me.
The driving feature of the money flow is the innovative nature of the project, marketing and new development. For all of them Leo Team is really working hard on. The new use case of the token will simply increase the demand and and and.
Although, there are 7.5Millions LEO token in the circulating supply, the liquid tokens are really small in number. If we talk in number it is only 18% of the total available tokens into the market.
The staked tokens and those tokens in the liquidity pools are the one that people have invested for the passive interest on it with the mindset of long term and even if the price gives few hundred of percentage it won't be like the scenario when everyone start selling in hurry. Simply, more the number of tokens are staked, there is more likely chance of people willingness to hodl it and a great community support.
We can't be looking into the fundamentals only and projecting the price of any asset at least I don't do that. Technical provides a huge edge to what we are looking for and a price history in the same level.
We can see that during the April, LEO Token was doing pretty well and we can see the price was trying to consolidate above the 1$ mark even after the huge sell off at touching 1$ + first time. If the market has remained bullish, it may have been trading above 1$ for now. But, the market crash let it lagging behind like 99% of the altcoins.
Now, if we look at the Chart the price seems breaking the downward trend(MORE ABOUT IT MY PREVIOUS POST:HERE) and is trying to face for the major resistances and we have to know that in smaller project such breakout is really massive. It won't take much time for the price to go back above the 1$ which it had done previously. I don't change my technical chart and you can clearly see the big vectors candles where price has previously travelled and I am sure the same will go in opposite direction once we start moving upwards.
The consolidation which was supposed to be there last time didn't happen because of the market crash but it seems if we touch and cross the same level again, the 1$-0.9 $ mark is going to be huge support for the price but it may take time so, don't expect a boom and bust in good project like this.
From fundamental it is clear that 1$ LEO MC will make it still undervalued and events and innovation will ignite the up trend breaking the major resistance.
IF YOU HAVE STAYED UPTO NOW, THANK YOU
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