Lido DAO price prediction favors the bulls and suggests a significant rise in the value is possible. LDO price took support near $1.400 and reversed upward with a high buying volume.
Slow and steady, prices continue to rise by forming high swings and succeed to break out of the $2.00 hurdle. It triggered the positive sentiment and fueled the further rally.
Meanwhile, buying volume bars increased rapidly and prices also followed the same direction. It denotes some crypto whales had taken long positions and expect LDO crypto may outperform in the coming months.
Lido DAO price managed to climb above both the 50-day and 200-day EMA showcasing an uptrend. The support levels are trailing higher and higher indicating buyers are active. Therefore, if any short-term correction triggers then selling pressure will be easily absorbed near $2.00 support.
On the higher side, $2.830 may act as an immediate hurdle for the bulls. If the rally continues and buyers succeed to break out of the $2.830 hurdle. Then a sharp rise of 10% to 15% may be visible.
Currently, LDO price is trading at $2.432 with an intraday rise of 2.83% and a 24-hour volume to market cap is 9.18%.
Lido DAO Price Analysis: More Scope for Upside is Pending
Lido DAO price prediction suggests bulls are returning to the track and more room for upside is open. The recent rally in LDO crypto looks powerful and reliable because it is supported by genuine buying.
Therefore, till the LDO price sustains above $2.00 the buyers will remain active and a new swing high may be visible. Meanwhile, the overall crypto market is also bullish which is positively impacting the prices of LDO and other altcoins.
The technical analysis suggests that the LDO price is on buyers’ radar and a breakout of $2.830 will trigger the next phase of the rally.
LDO Price Rose for Five Consecutive Weeks
LDO price rose for five consecutive weeks and formed a bullish pattern on a weekly chart.
At present, the price is near the supply zone so it may consolidate for some time before rising upward. However, if the situation reverses and prices face rejection then it might retrace down to the 50-day EMA.
The MACD curve slopes upward and the histogram forms green bars. It indicates the strength of the bulls and confidence of the bulls. Whereas, the RSI at 74 entered into the overbought territory so it might be a matter of concern for the short-term bulls.
Conclusion
Lido DAO price prediction is bullish and suggests new swing highs may be visible in the coming months. The recent upmove looks reliable so it’s better to build long positions and stay in the direction of trend.
The analysis suggests that the LDO price is in an uptrend and may easily fly to $4.00 by the middle of 2024.
Technical levels
- Resistance levels: $2.830 and $3.287
- Support levels: $2.017 and $1.700
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and 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.
Source: https://www.thecoinrepublic.com/2023/11/15/lido-dao-price-prediction-will-ldo-price-fly-to-4-00-in-2024/