Leo Token Must Buy (Demand Zones) Levels

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Yesterday, leo.stats@leo.stats issued their LeoFinance Weekly Stats for the week of 10/12/2020. The one chart that immediately stood out to me was the leo price displayed as a line chart.

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Now anyone who has read my post, know that I live candle charts because the show the emotions of price in the form of supply and demand. Supply and demand drives all price, from local flea markets to the stock market. When a lot of people want to buy a certain item with limited quantity, price will go up. On the other hand, if no one wants to buy a certain item, the seller has to lower the price until the buyer becomes interested.

As a supply and demand trader, the premise of supply and demand trading is when the market makes a sharp move up or down the large institutions i.e banks/hedge funds are not able to get their entire trade placed into the market, leaving pending orders to buy or sell at the zone with the expectation the market will return to the zone and the rest of their trading position will be filled.

A line chart is a graphical representation that connects a series of data points (in the form of closing price) with a continuous line. Line charts are the most basic price charts because they dampen the noise found on charts, leading to less false signals and minimize analysis paralysis. Lastly, line charts can be and can be used on any time frame. Multiple time frame analysis is simply the process of looking at the same pair and the same price, but on different time frames and I have been playing around with line charts for the 12 months.

After 12 months of looking at line charts, I can actually spot supply and demand levels easier than on candle charts. Thus, when I saw the Leo price chart displayed on a line chart, the demand levels stuck out to me like Lebron James or Michael Jordan sticks out on a basketball court. So the levels I will be paying close attention to is the demand level at $0.12 and $0.09. For my money, the best level to buy would be at the demand level at $0.09.

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This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

Leo Token Must Buy (Demand Zones) Levels | Ecency