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Lido DAO Price Analysis: LDO Token Resist $3.0 Bullish Hurdle, but Indicators Display Bullish Strength 

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Lido DAO Price Analysis
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  • The Lido DAO token overcame a box pattern after a minor consolidation.
  • On the 4-hours price scale, the LDO token is trading above the all-important moving average.
  • The price of the Lido DAO pair with Bitcoin is up 15.7% at 0.000009807 Satoshis.

The Lido DAO token has been looking a bit bullish over the past few days. The LDO token completely turned bullish near its all-time low on Binance. Investors are going to make up for their lost cost as the price moves towards its all-time high.

According to trading volume, a lot of people have started holding LDO tokens since the beginning of July. Nowadays, the volume also shows a higher than average buy as buyers bring in this asset on the margin side. Thus, buyers are able to keep the price above the box pattern after the breakout.

In the lower time frame window, the LDO token is trading above key moving averages such as the 20, 50, 100 and 200 DMA. Meanwhile, the 100 DMA sees as a recent support level for investors.

At the time of writing, the Lido DAO token remains above the $2.0 support level while it is trading at the $2.25 mark. According to CMC, the market cap has increased by 16.4% to $700 million in the last 24 hours. Furthermore, the price of the Lido DAO pairing with bitcoin is up 15.7% at 0.000009807 satoshis.

RSI May Indicate Bearish Sign Ahead 

In the context of the daily price scale, the RSI indicator retested the overbought zone twice in the last 60 days. Now the indicator shows slight correction as long as it is above the 60 mark. If the indicator slides below the semi-line, a drop may occur.

Moreover, the MACD continues to move up in positive territory on the daily price scale.

Conclusion

Although the Lido DAO token is trading above the box pattern, it is still trading below the 10-day high. For a more bullish rally, buyers need to push the price above the $3.0 resistance level.

Support level – $2.0 and $1.0

Resistance level – $3.0 and $3.5

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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