LDO Showing Bullishness, Targeting $5?

The Lido DAO price action showcases bullishness, as the LDO crypto sustains the gains on the upper side in the bullish territory and ignores the rejections. The sellers are still making short positions and trying to cause a pullback in the price.

TheLido DAO crypto mirrors bullishness and it is holding the gains above the key moving averages. Bulls are accumulating the cryptocurrency and are getting ready to cross $4.00 in the upcoming sessions.

The chart formation shows the buyers’ momentum and indicates an optimistic outlook. The LDO crypto is aiming to accomplish a breakout soon, so traders and investors are watching it closely.

The price action shows a strong chart structure with bulls’ dominance, and long buildup activity, and a v-shaped recovery is noticed on the daily chart. Moreover, bears were now becoming cautious due to the vertical rally that trapped sellers in the past sessions.

Lido DAO’s price was at $3.007 and gained 1.04% of its market capitalization during the day’s trading session. The last 24-hour trading volume was 98.13 Million. This demonstrates that bulls are trying to accumulate it to surge toward the upper price range. 

Technical Analysis of Lido DAO Crypto Price in 1-D Timeframe

Lido DAO (USD: LDO) has steadily seen its crypto price rise for the past three months, gaining by 66.56% and 24.71% in the last month. Currently, the LDO crypto is trading at $ and has been trying to hold on to this level after an unexpected surge in the price.

At the present moment, the Lido DAO crypto price (USD: LDO) is trading beyond the 50 and 200-day EMAs (exponential moving averages), which are maintaining the price momentum. 

The current value of RSI is 50.95 points. The 14 SMA is above the median line at 51.03 points which indicates that the Lido DAO crypto is bullish.

The MACD line at -0.003 and the signal line at 0.053 are close to the zero line. A death crossover is observed in the MACD indicator which signals weakness in the momentum of the LDO crypto price.

Summary

Lido DAO’s (USD: LDO) technical indicators support the bullish trend. The key indicators like MACD, RSI, and EMAs are giving positive signs and imply that the uptrend may continue in the days ahead. The price action showcases that the investors and traders are bullish on the daily time frame. Furthermore, Investors and traders should wait for a proper setup for the next move and avoid FOMO.

Technical Levels

Support Levels: $2.552 and $2.284.

Resistance Levels: $4.408 and $3.500.

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

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.