LDO crypto in Bulls Grasp; Whats Next?

Lido DAO crypto (USD: LDO) price is in a powerful uptrend, trading near the resistance level of $2.074. Buyers are aiming to break through the obstacle and achieve a new high. LDO crypto soared by more than 27% last month. The price is above the key moving averages highlighting the bullishness.

The price action indicates that LDO crypto broke above the multiple tops, showing the strong force of the bulls who kept making long positions.

At press time, Lido DAO crypto was trading at $2.012 with an intraday loss of 4.36%, breaking below the 200-day EMA, and showing bearishness on the charts. Moreover, the intraday trading volume is 80.289 Million. The market cap of Lido DAO crypto is $1.791 Billion.

The oscillators are currently indicating that the price is overbought. The investors are optimistic regarding the upcoming week’s performance.

Lido DAO crypto price increased 10.85% over the past week and gained 27.10% over the past month. However, the crypto has performed poorly over the longer term, as it grew by about 8.82% over the past three months, and by about 9.89% over the past six months. The crypto’s performance throughout the year has also been good, with a year-to-date incline of about 110.68%.

Technical Analysis of Lido DAO Crypto Price in 1-D Time Frame

Lido DAO ( USD: LDO) has steadily seen its crypto price rise for the past three months, gaining 8.82% and 27.10% in the last month. Currently, LDO crypto is trying to hold on to this level after an unexpected surge in price.

If it can keep this level, the Lido DAO price could continue to go up and reach the first and second targets of $3.00 and $4.00. However, if the LDO price cannot maintain this level and falls, then it might hit the closest support levels of $1.781 and $1.711.

Currently, Lido DAO crypto (USD: LDO) is trading above the 50 and 200-day EMAs (Exponential moving averages), which are supporting the price momentum. 

However, if buying volume adds up, then the price might support bullish momentum by making higher highs and make new highs. Hence, the Lido DAO price is expected to move upward giving bullish views over the daily time frame chart.

The current value of RSI is 00 points. The 14 SMA is above the median line at 65.88 points which indicates that the Lido DAO crypto is bullish.

The MACD line at 0.087 and the signal line at 0.071 are above the zero line. A bearish crossover is observed in the MACD indicator which signals strength in the momentum of the LDO crypto price.

Summary

Lido DAO (USD: LDO) technical oscillators also support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the LDO crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. Lido DAO Investors avoid the fear of missing out. Scarcity is created in the crypto market to gain more investors and creditors. It is better to keep it at arm’s length as this may result in one of the emerging reasons for market volatility.

Technical Levels

Support Levels: The Lido DAO crypto price may find support at $1.781 and $1.711, where it could bounce back or stabilize.

Resistance levels: The LDO crypto price may face resistance at $3.00 and $4.00, where it could reverse or consolidate.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.