Coinbase now supports Lido Finance’s LDO.
LDO’s market cap dropped from $547.7 million to $3.67.78 million.
Its new addresses grew even during last week’s crash.

Coinbase listings are usually considered elite and often have a positive effect on cryptocurrencies. If this ends up being true for LDO, then the masses are likely to see a surge in its market cap as new demands will pour in from Coinbase. Coinbase has confirmed the plan of making the token available for trading through the LDO/USD trading pair. Although the pair would roll out in phases and may not be available in few of the hegemony.

Coinbase will add support for Lido DAO (LDO) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets (@CoinbaseAssets) November 16, 2022

Here’s what charts reveal

The price trends form a rising wedge pattern targeting the $1.500 level. The price may soon reclaim the 50 EMA as it surges to the target level. The volumes are high and volatile but may witness high demands due to the new listing. If it crosses the $1.220 level today and closes above it, it may successfully maintain the foreseen pattern.

The CMF indicator is directed upwards, indicating the approaching uptrend. It may soon cross the 0-mark and float above it to depict the bullish movement. The RSI indicator currently moves in the neutral zone in the range of 40-50 but may soon shoot up towards the 60-70 mark, matching the demand inflow and returning to being neutral again. The MACD indicator converges with descending histograms. It may tangle and records gradually increasing sales.

The closer look

The pattern continues to form, and the market is preparing to witness the surge. The CMF indicator shows vulnerable movements, indicating active bulls and eager bears. Soon the market will be under the control of the bulls, with buyers flooding the market. The RSI indicator has moved up in the range of 50-70 and, after greater displacements, is now closer to the neutral range and may continue similarly. The MACD indicator records a thread of purchases with both lines tangled and neutral.

Conclusion

The token and Lido Finance are still relatively young in the crypto-verse. This means there is still a lot of untapped potential, and this accomplishment might help it actualize its goals. It may derive great benefit from this announcement and come out as a strong contributor to the crypto environment.

Technical levels

Support levels: $1.015 and $0.430

Resistance levels: $1.730 and 2.110

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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Source: https://www.thecoinrepublic.com/2022/11/19/is-there-a-hole-in-my-pocket-ldo-will-take-care-of-it/