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WLEO/USD 4 Hour Price Chart Analysis: Range Bound is the Order of the Day by scaredycatguide

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· @scaredycatguide ·
$9.41
WLEO/USD 4 Hour Price Chart Analysis: Range Bound is the Order of the Day
We're about due for WLEO/USD price analysis so lets take a look at what has developed over the past week.


### Hammering out more support levels

![image.png](https://images.hive.blog/DQmZAAHtccMPccR82KBKH45rbNm8ZNhjcvkMjXm39QKe3HA/image.png)

Looking at the 4 hour chart we can see price is mainly range bound, which is actually a win considering it broke out of that descending channel it was in after making all time highs on Dec. 3rd.

#### Support firmly in play

The recent activity has really hammered out the 23-24 cent level as support.  You can see price bounced off and or fought with it four times now and it looks as if we are getting another hold and potential bounce on this fourth go around.

Now granted, this is the 4 hour chart we are looking at so take it with a grain of salt, but it is a clear support nonetheless.

#### Where' my upside?

We have two targets based on the levels you can see drawn on the chart.  The first of which being 25 1/2 cents and then the next being basically 27 cents, which would put price in striking distance of the all time high.

##### Conclusion

In the end, this is short-term price analysis.   If you are a HODL then the only time to look up is when price makes a new high to celebrate.  Otherwise, carry on carry on.

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@fabian98 ·
Brother, where can I find that chart? Is it leodex or hive-engine?

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@oldtimer ·
$0.02
More new users, more rewards, more selling pressure. Old members exhausted all resources and have no more coins to trade or money to buy.
Excitements cooled down and I don't expect a price rise anytime soon.
That's a six-pack Joe's and common-sense analysis. 
I'm not saying you're wrong because I don't know shit about charts and lines, tho.
Will see how it goes.

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@reonarudo · (edited)
Organic growth will be a slow grind at least initially. Also, ETH has dipped, which will exert downward pressure on wLEO. 

As the word keeps getting out, the number of users and readers will keep growing, which will result in more ad impressions and buying pressure on the token. Also, ETH can be expected to go up considerably by next summer.

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@scaredycatguide ·
Yeah, I'm with you.  I actually didn't think my analysis came across bullish in the short-term at all hahaha.   Building a price base in this range where it conveys on the daily chart I believe will be ideal.

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@theatdhe ·
Good technical analysis that's how I do them myself! Maybe I should do one and in the next post?

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@scaredycatguide ·
Nice, yeah pump them out!

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@tin.aung.soe ·
Price Up of LEO can make Newcomers more interest. But, that may be hard to stake. 
So,now, I want to be decrease Leo price.

Thank for Sharing!

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@wiseagent ·
I would like to have patience to understand graphs like this, haha!

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@scaredycatguide ·
That is what me and @rollandthomas are here for hahah :-)

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@yuriitonkov ·
I think we are gonna test the support resistance in 0'21, I hope we rebound there and take off. Regards

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