It has been quite some time since I did a WLEO price analysis. Alot has happened since the last one. So let's take a look.
Looking at the chart above you can see that WLEO gave back the entire 2021 bull run. While this is disappointing, the constructive piece is price held the key support that marked the begin of the move.
You can see the bottom most support line at roughly 21 cents. Price bounced off this, modestly, and then traded up to the 23 cents area resistance before pushing down a little to 22 cents where it floats now.
For bullish price action to set in, we need to see 24 cents reached. Then the low 30's become the next upside target.
Holding 21 cents is also key, otherwise price could test the all time low of 17 cents (as far as the chart data goes).
This is just some technical analysis. I'm bullish on LEO based on all the projects going on with LEO/CUB and so on. However, a breakout or breakdown in the overall crypto market can certainly impact price in the shorter term.
