•LDO/USD is currently priced at $0.95 and has decreased by 0.02% over the past day
•The trading volumes have decreased by 30.13% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Will the LDO bulls be able to sustain the uptrend?
The Lido DAO price today is $0.956921 USD with a 24-hour trading volume of $11,297,552 USD. Lido DAO is down 0.02% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.03774 for the altcoin.
The heavy losses suffered by Lido DAO Token over the past few weeks has been curtailed to some extent as the bulls are currently in damage control mode. They have been able to successfully lodge a challenge to the LDO bears and the Lido DAO price is currently transacting above the 20,50 SMA on the four hour chart as a result. The bulls will be aiming to scale the crucial $1 mark in order to emerge as credible challengers to the bears’ authority whereas the move below $0.90 support level would bring a halt to the nascent uptrend.
Long Term View for Lido DAO
The RSI for Lido DAO is currently transacting at 41.94 after the bulls showed some vigor over the past few days to break out of the cycle of losses. The stabilizing and soothing presence of the green histograms on the daily chart enhances the credentials of the Lido DAO bulls who are adamant upon price gains. The move of the MACD and signal lines into the positive territory will further enable the LDO bulls to stamp their authority in the market.
Conclusion
LDO is currently at a crossroads as the asset had plunged to deeper levels over the past few weeks. The bulls have stabilized the asset to some extent and the asset is in the nascent uptrend stages at this point of time. The coming days will provide us with an insight into the future course of the coin.
Support: $0.90
Resistance: $1
Disclaimer
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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.