- The Lido DAO Price (LDO) forms a high-low and low-high formation on the daily price scale.
- The LDO bulls are approaching to push the price above the mid-band of the Bollinger Bands indicator.
- The bitcoin-related LDO token pair price is up 3.8% at 0.00009462 Satoshis.
In terms of the daily price scale, the Lido DAO token (LDO) appears to be under a symmetrical triangle pattern. Price action attracts high-low and low-high formation over the past several days. This week has been very volatile for investors as this week saw a boom in trading.
At the time of writing, the LDO token is trading with a 0.21% intraday gain at $1.89 against the USDT pair. Despite the three-day rally, the bulls are seeing a 8.9% drop in the price this week, and investors will be looking at a bearish weekend.
Buyers found several upside price rejections near the $2.2 resistance level. Besides, the $1.5 mark was a major support level for buyers. At the time, the bears attempted to keep the asset price below the $2.0 level. Furthermore, the bitcoin-related LDO token pair price is up 3.8% at 0.00009462 Satoshis.
Last night, speculators registered a drop of 10% at $82.5 million. Because, LDO bulls are coming to push the price higher above the mid-band of the Bollinger Bands indicator on the daily price chart.
Price is Still Trading in Triangle Pattern
On the daily price chart, the RSI indicator appears to be flat just below the semi-line. At the same time the MACD indicator continues to move downwards in the negative zone. Both the indicators are indicating no directional trend in the Lido DAO token.
The trading range of the triangle pattern is gradually narrowing for the Lido DAO token. Lastly, the price action marks the formation of higher highs for the past three days, but the RSI and MACD indicators are not supporting the ongoing trend.
Support level – $1.5 and $1.0
Resistance level – $2.3 and $3.0
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.