Even though some coins are in the red zone, the prices of most of the cryptocurrencies keep rising.
LEASH/USD
Doge killer LEASH has not followed the growth of other coins, falling by 5% over the last 24 hours.
On the hourly chart, the price of LEASH has made a false breakout of the local support level at $628.7 against the increased volume. It means that this level is important for traders in terms of further moves. If the closure happens far away from that mark, there is a chance to see the correction in the zone around $660 shortly.
The situation is not so clear on the daily time frame, as the price is far away from key levels. In this case, the more likely scenario is sideways trading in the wide range between the $600 and $700 marks. Furthermore, the declining volume confirms that neither bulls nor bears are ready to seize the initiative.
From the midterm point of view, LEASH keeps trading below the resistance at $699.9. Until the price is below the important $700 mark, traders might see a correction so the altcoin could gain more strength for a further move.
All in all, a decline to the $600 zone is the more likely scenario until the end of the month.
LEASH is trading at $633.9 at press time.
Alex Dovbnya
Arman Shirinyan