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ThecoinrepublicCryptoLido DAO (LDO) Price Prediction: Will the...
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Lido DAO (LDO) Price Prediction: Will the LDO token price bounce back from the demand zone?

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  • Lido DAO token price sustained above the 50 and 200-day EMA
  • LDO token average volume remains high as compared to the previous month.
  • LDO token technical indicators are mildly bearish but the price action is still in the favor of bulls.

Lido DAO token price is trading with mild bullish cues and bulls are trying to hold the price above the 50-day EMA to show its dominance on the lower levels. Currently, The pair of LDO/USDT was trading at $2.078 with intraday gains at 0.34% and the 24-hour volume-to-market  cap ratio at 0.0696

Will the LDO token price hold $2.000?

On a daily time frame, the Lido DAO token price is on an uptrend, and bulls have succeeded to keep the price above both the important EMAs. At the beginning of January, LDO price broke out of the narrow range consolidation zone with a giant bullish candle and continued the upward momentum while forming higher high candles. Recently, in the past few days, LDO price has faced resistance near the supply zone and are reversing down towards the 50-day EMA.

The average volume of the LDO token has surged to the next level and the 50 and 200-day EMA has also generated a golden crossover which indicates the positional trend has reversed in the favor of bulls, and any dips toward the support level will be a buying opportunity for the investors. On the higher side $2.483 will act as an immediate hurdle for bulls followed by the next hurdle at $3.100

The technical indicators of the LDO token are mildly bearish but the price is still in the favor of bulls. The probability of bouncing back from the support level of $1.852 and $1.500 is high till market sentiment remains positive. However, if overall market sentiment turns negative then it can create trouble for bullish traders. The MACD had generated a negative crossover indicating the price might trade with negative bias and the RSI curve at 51 denotes the neutral sentiment between bullish and bearish positions.

Summary

Lido DAO token price had performed quite well and sustained the above the 50 and 200 day mark showing the confidence of bulls at the lower levels. The technical analysis suggests that LDO price is bullish and it will soon bounce back from the support levels.

Therefore, traders may look for buying opportunities near to the support levels for the target of the $3.000 mark by keeping $1.200 as SL. However, if price slipped below the $1.200 then bears can drag the price down towards the yearly lows. 

Technical levels

Resistance levels: $2.843 and $3.100

Support levels: $1.500 and $1.000

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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