Lido Dao (LDO) token glimpsed a trend reversal and is accumulating strength, overtaking the round mark of $2.000. Furthermore, the price action shows the golden crossover, taking the toke into a rising parallel channel. Following the 20-day EMA rebound, LDO token is ready to retest the round mark of $3.00. Moreover, the LDO token is starting to form higher highs.
LDO price is trading above the significant moving averages and is above neutrality, delivering a mildly optimistic outlook. Additionally, the token has corrected from the highs of $3.50 during the start of 2023 and retested the lows of $1.30. Technicals suggest that the LDO token will gain pace and may skyrocket if it sustains above $2.00.
The live price of the LDO token is $2.29, with an intraday gain of 7%, showing bullishness on the charts. Moreover, the trading volume increased by 9.30% to $114.40 Million, and the pair of LDO/BTC is at 0.0000621 BTC. However, the market cap of LDO is $1.84 Billion. Analysts have maintained a neutral rating and suggest a growth outlook for the upcoming sessions.
Will LDO Token Picks Momentum Above $2.20?
On the daily charts, the LDO token price is trading above the round mark of $2.00 and is trying to extend the gains beyond the trajectory hurdle of $2.50. Furthermore, the buyers picked momentum and showed a pullback from the 20-day EMA, where sellers try to push the bulls and look to crack the sensation.
The RSI curve stayed near 65, showing a negative crossover, and witnessed profit booking on the charts. The MACD indicator showed a bearish crossover and formed red bars on the histogram, suggesting volatility for the upcoming sessions.
Weekly Charts Shows Roller Coaster Moves
On the weekly chart, the LDO token price was trading close to the hurdle of $2.40 and made a rejection candlestick, a kind of evening star indicating a solid seller grip. However, the price action suggests the roller coaster moves, and the price stayed in a range, hovering below $2.50 months ago. During the recovery, buyers find it difficult to carry forward the gains and face resistance near $2.50.
Summary
The Lido Dao (LDO) token is trading close to the resistance zone of $2.50, which the bulls are trying to surpass. Additionally, the bulls have sponged the selling pressure and came out of the correction phase, which is a positive sign for the near term.
Technical Levels
Support Levels: $2.00 and $1.80
Resistance Levels: $2.50 and $2.80
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2023/11/19/lido-dao-price-prediction-ldo-might-call-3-00-by-end-of-2023/