Lido DAO Price up 25%; Will LDO Price reach YTD high soon?

• Lido DAO Price up by 25% in the current week and attempts to break the $2.500 hurdle.
• LDO Price bounces back from its lower range of consolidation.
• Lido DAO Price Prediction favors the bulls and suggests momentum might continue.

Lido DAO Price gained 25% in the current week and attempts to break out of the higher range of consolidation. However, the prices forming a long tail rejection candle shows the sellers are active. 

LDO Price is consolidating in the wide range between $1.500 to $2.500. Buyers tried multiple times to break the range but got rejected and reverted in a downward direction. However, the attempt looks powerful due to the sudden rise in many other Altcoins. 

Lido DAO Price Prediction suggests a rise in the long run but the momentum will pick up only after breakout of $3.00 hurdle. Presently, the prices are trying to come out of the consolidation range. 

Lido DAO Price sustains above the 50 and 200 day EMA shows the trend is reversing upward. Well, the EMAs are sloping sideways indicating prices still lack direction. LDO Price rises upward but the volume spike is not visible which might be signs of temporary up-move. 

The confirmation will come after a few weeks of  trading session. Lido DAO Price is trading at $2.40 with an intraday rise of 4.85%. The 24 hour volume to market cap ratio is 7.37%. 

Is Lido DAO Price returning back to bullish track?

Lido DAO Price has not performed well in the past few months but prices did not collapse. It consolidated in a range and formed a strong base. Therefore, the downside risk remains low. 

Till LDO Price sustains above $2.00 the probability of range expansion remains high. If the buyers succeed to break out of the $2.500 hurdle then 18% to 20% rise is possible. 

On the other hand, if the price faces rejection from the $2.500 hurdle then sellers will try to retest the previous lows. 

The crypto leader Bitcoin Price is at YTD highs which positively impacts the market sentiment. If the BTC Price continues the momentum then LDO is likely to follow the same. 

LDO Price formed bullish engulfing

LDO Price formed a bullish engulfing candle on a weekly time frame. It created a positive hope for the long term investors. The buyers seem aggressive and return back to the track. 

The MACD curve displayed a positive crossover and breakout of the zero line indicates bullish momentum might continue. The histogram bar is green which also favors the bulls. The RSI at 65 sloping upward denotes the strength of bulls and seems like more upside is possible. 

Conclusion

Lido DAO Price up 25% in the current week and trading near to the higher range of consolidation. 

LDO Price is gaining strength and probability of range breakout remains high. The technical analysis suggests, If LDO breaks $2.500 then it might begin the journey to reach YTD highs. 

Technical levels

Resistance levels: $3.000 and $3.321

Support levels: $2.000 and $1.500

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.