- Lido price analysis indicates a bearish trend for the past twenty-four hours.
- Bears are in control for both the four-hour and twenty-four price charts.
- Indicators show the bear’s reign is going to continue.
Since yesterday, Lido’s price has been declining, with bears now in charge of the LDO market. The bear market intervention changed how the Lido price moved. After that, when the bears took control of the market, LDO found support at $1.011 and resistance at $1.038.
Lido’s price has dropped by 11.20% in the last day and is currently trading at $0.9472. The market value has decreased by 11.61% to $296,425,31. On the other hand, the trade volume, which increased 36.23% to $35,124,350, reflected the pessimistic mood.
On the daily chart, the previous support level of $1.012 acts as the primary barrier. Price has now moved out of the symmetrical triangular formation and is trading in the direction of the area of support. If the price hits the support level at $0.937, we can see a drop below $0.90.
A shift indicates a slight downward pressure to the upside in the Moving Average Convergence/Divergence (MACD) indicator. The Relative Strength Index (RSI), which exhibits bearish momentum, has also entered a bearish zone. The 50-day and 200-day moving average lines’ downward trends serve as indicators of a bearish market.
The LDO market is under selling pressure, and the current bullish trend may end, according to the RSI reading of 41.29. Because the RSI is still above its SMA, bulls may still have a chance, but this does not guarantee a price decrease and recommends investors monitor the market.
LDO began the daily trading session at an intraday low of $0.96, according to the price analysis of the daily chart, and has since drifted sideways, forming a descending triangle pattern. Given that the price is moving within the 200 and 100 SMA curves, the trend direction in the near term is negative. Additionally, the MACD histogram is currently located below the zero line and suggests a rising selling pressure.
According to the 4-hour price chart, the Lido market may remain under the influence of bears for the foreseeable future. This indicates that bear power is increasing and raises the possibility that prices will keep falling.
Our prediction of a bearish dominance in the LDO market is supported by the current trend of the MACD into negative territory, with a reading of 0.017 and below the signal line. The bulls must maintain the support level and drive prices higher in order to fend off the bears and reverse the present trend.
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