- Lido DAO crypto is showing an absence of buying momentum.
- Currently DAO coin is trading at a level of $1.573000 with an advance of +1.75% in the last 24 hours.
Lido (LDO) stands as a crypto endeavor with the mission of connecting the realms of decentralized finance (DeFi) and assets that are staked across diverse blockchain networks, most notably Ethereum (ETH). The core aim of Lido revolves around empowering users to engage in the secure and decentralized staking of their crypto holdings, including ETH. Furthermore, Lido seeks to enhance liquidity and compatibility with various DeFi protocols, fostering a seamless interaction between these financial ecosystems.
The LDO token exhibits a volume-to-market cap ratio of approximately 3.08%. Additionally, the cryptocurrency boasts a Total Value Locked (TVL) of $13.56 billion. In terms of its circulating supply, there are approximately 888.43 million LDO tokens available, out of a total supply of 1.0 billion LDO. Notably, the highest price ever achieved by this cryptocurrency was $11.00, and at present, it is undergoing a decline of around 86.3% from its historical peak.
LDO crypto primarily sees trading activity on the USDT pair, with approximately 25.56% of its trading volume occurring on the HoubiPro exchange. Built on the Ethereum platform, this cryptocurrency adheres to the ERC-20 token standards and was officially launched on December 17, 2020.
LDO Price Technical Analysis
a by writer11_gsm on TradingView.com
Also, the cryptocurrency was recently trading within a specific price range, but it has since dropped below that range. This decline aligns with the previous bearish trend, and the downward momentum persists following a period of consolidation. The cryptocurrency’s price is consistently forming lower lows, indicating a bearish price structure, and there are currently no indications of a trend reversal.
As a result of the continuous decrease in price from significant highs, the 50-day Exponential Moving Average (EMA) and the 200-day EMA have crossed in a bearish manner, forming a death cross. This signals a bearish crossover and signifies. That the market is in a downtrend, which is in line with the ongoing price decline.
The Relative Strength Index (RSI) for the LDO cryptocurrency has reached the oversold territory. With its current trading position situated below the 50-level mark. This indicates a bearish sentiment prevailing in the market concerning the cryptocurrency’s price.
Lido DAO Volume Analysis
The volume of the cryptocurrency remains relatively stable, with its price gradually declining to lower levels. Without any sudden or significant price fluctuations.
Conclusion
Lido DAO currently exhibits a negative market structure, as evidenced by bearish signals from both the negative Exponential Moving Averages (EMA). And the Relative Strength Index (RSI) on the charts. Additionally, the summary tools for indicators and oscillators are generating sell signals. Consequently, it is anticipated that the cryptocurrency’s price will continue its descent towards lower levels in the coming days.
Technical Levels
- Support level for the LDO crypto are : $0.942 and $1.573
- Resistance level for the LDO crypto are: $2.439 and $3.015
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only. And do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.