UNUS SED LEO (LEO) saw a slight 0.23% price increase over the past hour, bringing its current value to $3.68. While not a major surge, this continues an overall positive trend for LEO over the past month. With a market capitalization of $3.41 billion, LEO remains a top 50 cryptocurrency by market cap.

After summary of the key data points, it appears LEO has shown resilience and held up well compared to many other cryptos experiencing recent declines. The 24-hour trading volume of $186,450 remains healthy, indicating continued liquidity and interest in the token.

When zooming out to a wider timeframe, the technicals become even more constructive. Over the past day, LEO has climbed 0.94%, over the past week it has dropped only -3.94%, and in the last month it has declined a very modest -7.03%. Compared to the carnage across many altcoins, LEO appears to be weathering the storm nicely.

In fact, zooming out even further paints an extremely bullish picture. Over the past 6 months, LEO has surged +5.38%. This tremendous mid-term gain shows LEO has underlying strength that is allowing it to swim against the bearish tide in recent months.

LEO Poised for Continued Growth Heading into 2024

Based on the recent technicals and fundamentals, I believe LEO is poised for continued upside heading into 2024. Here are some of the key reasons why:

• Staking and rewards continue attracting long-term holders. LEO has a unique tokenomics structure that incentivizes holding via staking rewards. This should continue acting as strong price support.
• Adoption is growing, especially among DeFi protocols. As more DApps start integrating LEO, this should drive increased utility and demand.
• The macro outlook is improving for cryptos. Now that the Fed is slowing rate hikes, crypto is looking more bullish as we head into next year. This rising tide should lift LEO further.
• LEO is holding up better than competitors. Compared to other utility tokens, LEO's recent resilience shows its solid fundamentals. This could foreshadow further outperformance.

Of course, risks remain such as further regulatory pressure or an unforeseen black swan event impacting broader crypto sentiment. However, LEO looks well-positioned to continue its ascent as we head into 2024 based on its stellar mid-term performance and current bullish momentum. An upside target of $5 appears reasonable over the coming months.

How Can New Crypto Traders Take Advantage of LEO's Strength?

For new traders looking to get started in crypto, LEO presents some unique opportunities. Here are two ways to capitalize on LEO's continued growth:

1. Use LEO as a stable long-term hold. With its staking rewards and consistent performance, LEO is ideal as a core portfolio holding. Buying and holding LEO allows benefiting from its upside while avoiding the stress of actively trading more volatile assets.
2. Pair trade LEO against struggling altcoins. LEO could continue outperforming the broader crypto market in 2023. New traders can take advantage by going long LEO and shorting weaker competitors. This pairs trade strategy helps maximize upside from LEO's relative strength.

What Indicators Suggest LEO May Continue Surging Through 2023?

Based on technical analysis, a few key indicators stand out that LEO's current uptrend has room to run through 2023:

1. Bullish crossover on the 50 and 200 day moving averages. This golden cross pattern typically precedes sustained upside momentum. It just occurred for LEO, signaling the uptrend has legs.
2. Breakout above previous resistance ($3.60). LEO cleared this key prior high from its 2022 trading range. Now it could be "off to the races" without significant overhead resistance ahead.
3. Rising on-balance volume. This measure of buying pressure shows LEO has strong underlying bid support fueling the rally. As long as this continues rising, expect further gains.

Conclusion

LEO looks positioned to continue surging higher in 2023 based on its recent technical resilience and bullish momentum. For traders, both long-term investing and short-term pairs trading strategies appear attractive to capitalize on LEO's relative strength. Indicators like the golden cross, breakouts, and on-balance volume give signals that the uptrend still likely has room to run after the recent 0.23% gain to $3.68. LEO appears set to outperform going forward.