- Lido DAO Price holds $2.00 support and rose 10% in the previous session.
- The LDO Price is sustaining above the 50 and 200 day EMA shows uptrend.
- The Lido DAO crypto price formed a strong base near $2.00.
Lido DAO Price recovered 45% approx from the swing low and succeeded to hold the $2.000 level. It is forming a bullish continuation pattern and price is trying to break the $2.500 hurdle.
LDO Price sustained above 50 and 200 day EMA and both are sloping upward. It shows that the positional trend is reversing in the upward direction. The recent up-move of 10% in a single day indicates the buyers are active and expecting upward momentum to continue.
Lido DAO price seems to be trading in the wide range between $1.500 to $2.800 and likely to break out soon. Previously, buyers tried multiple times to break out and expand upward. Sadly, every attempt failed and prices remained in the range.
On the lower side, $1.568 turnout as a strong support and bulls showed a decent bounce from the lower levels.
LDO price is again approaching the high range and this time the probability of breakout looks high. If the breakout happens then we might see a sharp rise in the short span of time.
Lido DAO price is trading at $2.364 with an intraday decline of -1.75%. The 24 hour volume to market cap ratio is 0.0515. The pair of LDO/BTC is trading at 0.00008862 with an intraday rise of 0.34%.
Will Lido DAO Price test $3.500 in coming months?
Lido DAO Price performed well in the previous month despite selloff in many other Altcoins. It shows the confidence of investors and the long term outlook seems bullish.
LDO crypto is reversing upward but the volume remains stable. If the buying volume increases along with the increase in price it will strengthen the bulls grip. Till LDO price holds $2.00 and sustains above both the EMA the possibility of reaching $3.500 is high.
However, the immediate hurdle for the bulls will be $2.800 which is a higher range of consolidation. If the prices face rejection from the higher range then it is likely to continue the consolidation in the previous range.
The technical analysis suggests, Lido DAO Price is in bulls grip and more rally is pending for coming months.
LDO Price up for five straight weeks
LDO Price is rising for five consecutive weeks and forming higher high candles on a weekly time frame. The price chart in the weekly and daily time frame looks bullish which increases the confidence of the long term investors.
The MACD curve is rising and trading above the zero line. It shows strength in the up-move and momentum is expected to continue. The RSI at 62 also denotes strength and buyers seem more active as compared to sellers.
Conclusion
Lido DAO Price recovered 45% approx from the swing low and momentum is still continued. The LDO price sustained above both the EMA shows uptrend. The technical analysis suggests, Lido DAO price is in bulls grip and a rally toward $3.500 is possible.
Technical levels
Resistance levels: $2.816 and $3.325
Support levels: $1.500 and $0.870
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.