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- Trading volume rises by 38%, amounting to $93.4 million.
- Lido’ TVL stands at $5.96 million
- BTC valuation rises to 0.00007419 BTC, by 15.2%.
While the crypto market relaxed a little from the overall bearish aura, the Lido DAO’s LDO prices benefitted and showed an intraday increase of 15.77%. Lido is a staking solution for Ethereum. It lets users stake their ETH without minimum deposits or infrastructure maintenance while participating in on-chain activities. According to LunarCrush, LDO marked an ATH in social mentions and positive market activity. So, indifferent to how the past was, Lido entered the new year with a bang.
The Char-t-ale
The current price for LDO moved, forming a falling parallel channel before the prices broke out. The present action suggests chances of forming “3 white soldiers”, and if that happens, a solid surge may be established. If current prices of $1.25 can breach the breakout level of $1.35, there are high chance of prices surging to $1.65. LDO prices have successfully claimed the 100-EMA, marking a bullish swing. It also witnessed a sudden rise in buying volume pertaining to the price rally.
The CMF indicator moves horizontally in the positive region for the contained rise. The MACD records a thread of low-rising buyer bars and slowly escalating interest lines. The RSI shoots to the range of 60-70 showing increasing buyer influence.
The peephole
The smaller time frame suggests prices are rising steadily. The CMF indicator is positioned in the positive zone but closer to the baseline. The MACD records ascending buyers and improving interests. The RSI surges to the overbought zone and moves sideways in the same range. The collective study suggests the chances of a further surge are decent until anything adverse happens.
Conclusion
The market for LDO suggests many bulky returns to approach in the coming months, and users might be interested in reaping these yields. Investors must keep an eye on $1.35 to decide on investing.
Technical levels
Support levels: $0.90 and $0.76
Resistance levels: $1.37 and $1.55
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.
