- Lido DAO shows an uptrend on the charts, with its price breaching $1.37 in recent trading sessions.
- Support for Lido DAO is seen at $1.18, which is currently the nearest major support level for the token.
- Lido is up by nearly 13% in the last 24 hours and 45.40% in the last week.
Lido DAO (LDO) analysis shows a bullish trend for the day as buyers’ participation has increased and more buying activity has been taking place in the market. The bullish rally has been continuous for the last several hours today, and the price overcame $1.42 resistance during this time.
As the bullish momentum intensifies, further improvement in LDO/USD market value is expected as bulls are preparing to challenge the $1.42 resistance next. The buyers must remain persistent to achieve their next aim. The Lido DAO’s trading volume has also increased to $78 million, showing that investors are taking a keen interest in the token. while the market cap stands at $1.139 billion.
The LDO token has surged by more than 13% in the last 24 hours and is currently trading at $1.37. The token has been on an impressive run for the past week, registering gains of nearly 45%. The market sentiments are highly optimistic following this price surge and traders will be closely looking out for further upward movement of the LDO token.
The recent bull run in Lido DAO has been quite remarkable and it looks set to extend further as long as buyers remain in control of the market. With strong fundamentals and increasing demand from investors, it is expected that Lido DAO will continue to ascend in the coming days.
Technical analysis of the LDO/USD pair shows that if buyers are able to cross the $1.42 resistance, we can expect further upside in the market. The immediate support for the token is at $1.18 and it must hold this level in order to continue with its bullish trend.
The moving average (MA) can be seen at $1.07, which is just below the current market price. A cross-over between SMA 20 and the SMA 50 curve took place last week and is further signaling a bullish trend for the token.
The Relative Strength Index (RSI) score has advanced up to index 57, but the curve is flattening up, hinting at the selling pressure building up in the market. On the other hand, the MACD indicator is currently in the positive zone and indicating further upward movement in the near term, with the signal line going above the MACD line.
Overall, Lido DAO is continuing to show impressive performance in the market, with its price breaching $1.37 in recent trading sessions. The market sentiment is highly optimistic, and investors are expecting further upside from the LDO/USD pair. With continued participation from buyers, the token could soon breach its all-time high of $1.42 in the near term.
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