{"id":15206,"date":"2022-12-06T17:08:32","date_gmt":"2022-12-06T17:08:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/leo-rebounds-on-wednesday-whilst-avax-falls-from-3-week-high-market-updates-bitcoin-news\/"},"modified":"2022-12-06T17:08:32","modified_gmt":"2022-12-06T17:08:32","slug":"leo-rebounds-on-wednesday-whilst-avax-falls-from-3-week-high-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/leo-rebounds-on-wednesday-whilst-avax-falls-from-3-week-high-market-updates-bitcoin-news\/","title":{"rendered":"LEO Rebounds on Wednesday, Whilst AVAX Falls From 3-Week High \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Unus sed leo was one of a few gainers on Tuesday, as cryptocurrency markets mostly traded lower. Bearish sentiment returned to the global crypto market cap in today\u2019s session, with prices down by 1.77% as of writing. On the other hand, avalanche was trading lower, as prices retreated from a recent multi-week high.<\/strong><\/p>\n

Unus Sed Leo (LEO)<\/h2>\n

Unus sed leo (LEO) was one of a few tokens to climb higher on Tuesday, as prices rebounded from recent losses.<\/p>\n

Following a low of $3.78 to start the week, LEO\/USD rallied to an intraday peak of $3.94 earlier in the day.<\/p>\n

This comes after bears were unable to force a breakout from a key price floor of $3.75 on Monday.<\/p>\n

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LEO\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, the rebound in price coincided with the 14-day relative strength index (RSI) also bouncing from a support of its own.<\/p>\n

The index rose from its floor at the 43.50 mark on Monday, and as of writing, is currently tracking at 49.12.<\/p>\n

This is the highest point that price strength has hit in over one week, pushing it closer to a ceiling of 50.00 in the process.<\/p>\n

Avalanche (AVAX)<\/h2>\n

Avalanche (AVAX), on the other hand, was one of many cryptocurrencies to move lower during Tuesday\u2019s session.<\/p>\n

AVAX\/USD dropped to a bottom of $13.48 earlier in the day, which comes less than 24 hours after hitting a peak of $14.31.<\/p>\n

Monday\u2019s high was the strongest point that avalanche had traded at since November 10, when price was above $15.00.<\/p>\n

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AVAX\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Today\u2019s shift in sentiment comes despite the 10-day (red) moving average maintaining its upward crossover versus the blue moving average of 25 days.<\/p>\n

Traders will likely make another attempt to move beyond the $14.40 point in upcoming days, as sentiment for now remains bullish.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect avalanche to hit $15.00 this week? Let us know your thoughts in the comments.<\/strong><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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