150k LEO on the Move – Retracement or Rally Ahead?

I have fun observing the sentiment towards the LEO token. In my last two articles, I shared about two leaders of the pack disposing of 100k and 77k LEO tokens, respectively. Despite such a huge volume, the price of the LEO token did not crash. This tells us that a lot of supporters of the token are just waiting for the sellers to be exhausted before buying.

This time we have an even bigger holder. With 150k+ LEO, he could be considered an Apex Lion. What I find interesting is that when the price of LEO reached above 0.90 SWAP.HIVE, he was a strong buyer from 17 to 20 August. He bought 2,475 LEO at 0.93 SWAP.HIVE on 17 August and added more in the following days.

Surprisingly, after eight days, he undelegated 150k-plus LEO from a tribe curation account. So far, he has already unstaked 50% of his holdings, and the remaining 50% will be completed in two weeks from now. That will be on 27 September.

I thought sellers were done. If the above account holder continues to sell what he unstaked, including the remaining 50% that will soon be unstaked, I expect a longer price consolidation than what I originally expected.

I know the feeling when you are on the wrong side of the trade. You are too optimistic when you see a price rally, and you start accumulating even when the price is high. However, no price rally, no matter how strong, remains extended indefinitely. Sooner or later, the correction comes when the early buyers start to secure their profits. And that is disappointing for those who anticipate an extended buyers' run.

Nevertheless, in any healthy price appreciation, retracement is inevitable. Once the sellers run out of ammunition, that's the time the price of the LEO token will resume its bull run.

Posted using SoMee