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Lido DAO Price Analysis: LDO Crypto Needs to Escape the Short-sellers’ Clutch to Maintain Recovery!

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  • Lido DAO price is trading with downtrend momentum towards the lower trendline of the rising parallel channel over the daily chart.
  • LDO Crypto has recovered above 20, 50, 100 and 200-days Daily Moving Average.
  • The pair of LDO/BTC is at 0.0001075 BTC with an intraday drop of 5.79%.

The price of Lido DAO is seeking to build rising momentum on the daily chart. The price of the coin has fallen beneath the mark indicated by the falling triangle pattern, thus it is currently striving to attract buyers. Shortly after leaving the descending triangle pattern, the token moved into an area that was bound by a horizontal range and is now attempting to surge into the top range. Before LDO may climb once more, LDO bulls must congregate. LDO investors should keep an eye on the chart for any changes in trend. LDO needs to draw enough customers in order to formally exit the parallel channel. On the daily chart, the token has to maintain its upward momentum in order to cross the parallel channel. LDO cryptocurrency is now moving downhill as it’s trading towards the lower trendline of the parallel channel. 

The market value of Lido DAO Pricing, which is presently trading at $2.55, has decreased by 9.46% from the previous day. During the intraday trading session, there was a 48.60% decrease in transaction volume. This demonstrates that on the daily chart for the LDO cryptocurrency, short sellers are in control. The market capitalization to volume ratio is 0.1472.

The price of the LDO currency has to rise further in order to approach the rising channel’s top trendline. LDO must rise in order to boost the accumulation of bulls, which the volume shift implies is now below average. For the LDO coin price to start showing signs of recovery on the daily price chart, a spike in the direction of the upper trendline is required.

What do Technical Indicators suggest about LDO?

Technical indicators inside the parallel channel highlight the LDO downturn’s momentum. The decline of the LDO coin was anticipated by the Relative Strength Index. The RSI is edging closer to neutrality at 61. The MACD shows the momentum of the LDO coin’s drop. The MACD line is lower than the signal line following a negative crossover. Those who have invested in LDO must wait for bulls to support the token so it can cross the channel.

Conclusion

The price of Lido DAO is seeking to build rising momentum on the daily chart. The price of the coin has fallen beneath the mark indicated by the falling triangle pattern, thus it is currently striving to attract buyers. Shortly after leaving the descending triangle pattern, the token moved into an area that was bound by a horizontal range and is now attempting to surge into the top range. Before LDO may climb once more, LDO bulls must congregate. LDO investors should keep an eye on the chart for any changes in trend. LDO needs to draw enough customers in order to formally exit the parallel channel. LDO must rise in order to boost the accumulation of bulls, which the volume shift implies is now below average. The MACD line is lower than the signal line following a negative crossover. Those who have invested in LDO must wait for bulls to support the token so it can cross the channel.

Technical Levels

Support Levels: $2.10 and $1.85

Resistance Levels: $2.88 and $3.00

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.    

Nancy J. Allen
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