WLEO Price Completed a Full Round Trip Landing Back at Original Basing Price

in LeoFinance13 days ago

It has been some time since I did a WLEO price chart review, and boy was that a mistake as there were many clear opportunities to sell and then buy back much more at a lower price. Having more LEO would have been the result and in the end I always want more LEO related tokens.

Upsy daisy downsy wowsy!

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Look at the fun ride we had on the WLEO chart. Things really took off late last year (with the rest of crypto) and then topped out with highs in March (lock many, but not all other cryptos).

From there the sell off began, we got lower highs in April and that set the tone for May at which point price touched the support line around 24 cents (on increasing volume, which is actually a good thing).

Now price has been consolidating the last couple weeks in between the 24 cent and 36 cent range.

Building a base here is welcomed as I'd rather not see price fall to the initial and lowest price base around 21 cents. It is only a few cents at this point, but it would just be another bearish type price movement to add to the list.

Basing here to make a run at 36 cents would be ideal.

It really depends on the overall market though. Odds are if BTC and Co. are going down WLEO will likely struggle too.

Leobridge and other catalysts from the leo team are a positive for the token, but still need growth before they can really buck the trend. Thus, I will keep my eye on the overall price action of crypto as well as I watch WLEO price.

Either way, what a wild ride the past 6 month, from bottom to top and back.

Long-term I'm a LEO HODLer so I guess this price action doesn't matter, but it is always nice to make some calculated moves to improve ones position and price.

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oh well i guess i followed you into a circle again cat back to square one.

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back in a bear market, very short lived and pretty shit for us. Cant imagine what the bear winter is going to be like, anyone who thinks we still in a bull market is flat out in denial.

I believe we're still in a bull market. If I'm wrong then this one has been the shitiest ever.

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Thats not very optimistic :)

true we could still be in a bull market, im just not optimistic your right.

Everything is on the table, I want to stay open mined about things, and the bear market in the moment probably has a higher chance then the bulls.
I'm personally undecided at this moment. Hope for another move up from September, but also ready for the bear.

What are the signals you are seeing for the bear?

The main one being the death cross, the huge correction in the chart and the absolute denial. The other one being the hype, even some of my friends have been buying crypto this year. I was of the same opinion as everyone that this will last all year but i just think this time is different and that actually we have been in a stealth bull run for a year already. 3k to 66k in one year is an epic bull run. Ethereum from bottom of 100 dollars to over 4000 is an epic bull run. All the warning signs are there to me all these coins are pumped and all they will do now is deflate. I could be wrong i hope im wrong but i dont know. Only thing making me bullish is that everyone is awake to bitcoin now, they only see it going one way up over the long term so the demand is going to be off the charts for quite some time.

3k to 66k in one year is an epic bull run. Ethereum from bottom of 100 dollars to over 4000

I also think about these numbers, but somehow I see the lows as a covid anomaly. Without the covid correction, BTC would have been somewhere around 10k, so a 10k to 60k ... Anyways still undecided, meaning around 50% in stables would be the way to go at this point, and no longs or shorts...

Without Covid 10k bottom, without Micheal Saylor and Elon musk 36k top. Still room to grow there but what worries me as well is the stock market. Bitcoin has never been through a stock market crash in over 10 years. This makes me concerned because i wouldn't put money in the stock market but yet if it crashes it will drag Bitcoin down with it so effectively we all have money in the stock market.

I remember at some point WLEO price was somehow tied with the ETH one. Too bad it has decoupled. Had it stayed as such we would probably have a $1 WLEO

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This was because the primary exchange and deepest source of liquidity for LEO, was the WLEO-ETH pair on Uniswap.

That meant that when ETH rose, so too did WLEO (and LEO).

But now that is no longer the deepest source of liquidity for LEO, we've lost what felt like an ETH peg.

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Interesting to add that LEO is also well below 1:1 with HIVE too.

I've been changing all of my (small) liquid HIVE rewards to LEO since we went below 1:1.

95% of the time, I sell to 'enginemaker' which I assume is a bot who's arbing with the wLEO price?

I wonder how much they can influence price in what's obviously a highly illiquid LEO market.

Probably quite a lot, making looking at price charts sort of irrelevant for now?

It all comes down to whether you believe LEO will have enough of a use case to create true demand on its own.

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