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WLEO Nearly Hit My Projected Price - Time for an Update on the 4 Hour Chart!

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@scaredycatguide
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In my last post analyzing the price of WLEO we had seen price breakout and speculated on where price could go.

At that time price ran from 28 to 38 cents with a short consolidation and then 38 to 48, so with that said odds were a next level up to 58 cents made sense based on measured moves.

We can on so close with price just about clocking 56 cents (depending on which exchange you use to do the USD conversion) before the crypto sell off occurred this past few days.

Price Consolidating...

Looking at the 4 hour chart above you can see the prior moves we discussed.

The good news...

Price never dipped below 40 cents on this move before bouncing. Now, we don't know yet if this is just a bounce or there will be some follow through so I'm not counting my chickens until I see WLEO above 50 cents again.

At that point it would be at the top end of the range, which is basically 51 cents to 36 cents and the all time high at 56 cents being the unicorn for now.

Consolidation is a good thing...

Let's say hypothetically that price bounces around in this 40 to 50 range, but hold above 36 cents. That scenario would be perfectly fine as range bound trading after an aggressive move higher is certainly not bearish and can be viewed as sound price action.

The real tell will be what ETH does. Any sell off in ETH will likely have WLEO testing the 36 cent level. On the flipside, if ETH runs higher than a push to the all time highs is in the cards.

Catalysts of its own...

Plus, leofinance has some big things in the works that can create its own price catalyst, so there is always that as a buffer to whatever direction ETH is pulling.

And that is about it folks, pretty simple analysis this go around after WLEO made the run at the last projected target.

I'm in wait and see at the moment before putting out the next price prediction.

Posted Using LeoFinance Beta