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- Its TVL increased by more than 5% amounting to about $6.17 billion.
- The staking protocol faces new addresses and brings along positive signals.
- The trading volume also surged by more than 9% amounting to 20.995 million.
LIDO DAO’s native token, LDO, may have misled investors to eventually disappoint them, but now may be the time it restores their confidence. After the historical crash of FTX and ongoing turmoil, the holders lose their hope bit by bit and don’t find anything stable enough to hold on to. The token has been dormant for a long time and has become a victim of the ongoing crunch. The new addresses on the liquid staking protocol seem to be in full anticipation of an LDO resurgence.
The char-t-ale
The LDO price forms a parallel channel as it moves horizontally within the bound and plans to surge. The price level moves to the ceiling of the Bollinger band, indicating high volatility. It also reclaims the 20-EMA and targets the higher EMAs, as it plans to rise. The volume also suppresses as it plans to pump in the future, matching the price rally.
The LDO price sets MACD in the neutral phase as the lines entwine and lays flat below the 0-histogram mark. The CMF indicator forms an inverted “v” as the price drops closer to 0. It may retrace and mark a slow, slopped uptrend in the future. The RSI indicator moves collinear to the average zone of the 50-mark. It may rise to the higher zones as and when the price surges.
The closer window
The price for the LDO token forms the set pattern unceasingly. The CMF indicator slopes up and hints at an approaching uptrend. The MACD indicator undergoes a bullish divergence with ascending buyer bars and a decent gap within the lines. The RSI indicator surges to the higher zones within the neutral bounds to touch the brim in the future.
Conclusion
LIDO DAO’s LDO shows subtle signs of resurgence as it struggles to break the deadlock and surge higher in the price chart. Both forces participate equally and try to capture the market but the future hints towards more buyers than sellers. All the holders can do is wait and watch, for it’s just a wager.
Technical levels
Support levels: $0.926 and $0.771
Resistance levels: $1.716 and $1.901
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
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She 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. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
