Lido DAO price prediction suggests that the LDO crypto is presently moving on an uptrend after breaking out of the bear’s stronghold. The price is trading above the critical 20 and 50 EMAs on the daily timeframe. There is a slight decline in volume which indicates that there is a fall in buying and selling activity.
If the price gains buyers’ support at the present level, it could surge about 5% near $1.80 within the next few weeks whereas the immediate support level for the LDO is below around $1.6. The price movements are relevantly more stable for LDO crypto than other major cryptocurrencies.
The buyers have an adequate probability of attaining the expected target if they are able to cross and sustain the price above the 200 EMA which would put the anticipated outcomes in the bulls’ favor
The press time value of LDO is $1.685 with a market capitalization of around $1.483 Billion (press time). Lido DAO price has been trading in a bull trend for the past few months. After making a breakout, LDO crypto price has been finding consistent support from the bulls from the trendline. Observing the historical price action, it can be estimated that the 200 EMA level has been acting as a crucial demand zone.
Technical Analysis of Lido DAO Crypto Price in 1-D Timeframe
If it can keep this level, the Lido DAO price could continue to go up and reach the first and second targets of $1.700 and $1.800. However, if the LDOUSD price cannot maintain this level and falls, then it might hit the closest support levels of $1.500 and $1.400.
Currently, Lido DAO crypto(USD: LDOUSD) is trading above the 50 SMA, heading towards 200-day SMAs, supporting the price momentum.
However, if buying volume adds up in the LIDO Dao, then the price might support bullish momentum by making higher highs and 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 the RSI is 54 points. The 14 SMA is above the median line at 49 points which indicates that the Lido DAO crypto is bullish.
The MACD line at 0.007 and the signal line at -0.002 are above zero. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the LDOUSD cryptoprice.
Summary
Technical indicators suggest there is a bullish trend as of now. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the LDOUSD crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action also reflects a bullish perspective. However, investors and traders should wait for a proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: The nearest support levels for the Lido DAO crypto price are $1.500 and $1.400.
- Resistance levels: The nearest resistance levels for the LDOUSD crypto price are $1.700 and $1.800.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/24/lido-dao-price-prediction-will-ldo-hit-the-mark-of-2/