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- The LDO price is still below the 20,50,100 days of the Daily Moving Average.
- The current price of the LDO is currently at $2.10 and has dropped by 1.47% during the last intraday trading session.
- The pair of LDO/BTC is currently at 0.002703 and has dropped by 1.65% in the last 24 hours.
The bulls’ attempt to raise prices enhanced investors’ expectations, but the bears have hindered their efforts. Investor trust must be quickly reestablished by the bulls by pushing prices to follow the upward curve. Lido DAO has a lot of potential, but the bears’ manipulation of the market generated significant obstacles for the bulls. The daily price chart’s irregular fluctuation has made it difficult for investors to determine the coin’s real movement, despite the fact that both bulls and bears are working to achieve their desired goals for the LDO price.
LDO’s price is currently $2.10 and has decreased by approximately 1.47% over the past 24 hours. which has resulted in one more step being taken in its direction of decline. In this bearish trend, the bulls must work hard to revive investor optimism by giving the coin’s price an uptrend momentum. If the bulls don’t exert themselves to raise the price and restore the true potential of the currency, the downward momentum of LDO may drive the price to the key support of $0.8911. The additional support level for the coin’s price is $0.4429. It would be challenging for the bulls to defeat the bears if the coin’s price reached secondary support. If the bulls are successful in reaching the target, the coin may strike the primary resistance at the price of $2.8141 and the secondary resistance at the price of $3.3057.
However, during the intraday trading period, the volume dropped by roughly 22.92%. The volume’s ongoing decline is a sign that the strain from short-selling is growing. The volume-to-market cap ratio for LDO is currently 0.1698. The MACD and MACD signal have intersected giving a negative crossover
The Technical Analysis of LDO
The technical indicator shows the following: The Relative Strength Index is moving away from overbought territory, but buyers are attempting to drive it back there. The current RSI is 39.03, and the average RSI is 46.13. The bulls’ lack of movement, however, gives the bears an opportunity to get ready for their objectives and drive the RSI into the oversold region. To move it towards neutrality, the bulls must make an additional effort. The coin’s price is still below the 20,50,100 days of Daily Moving Average and above the 200-day Exponential Moving.
Conclusion
The LDO is currently facing a lot of Ups and Downs over the daily price chart. It seems that the bears are getting the ball in their court. The coin’s price is currently under bearish dominance moving downward on the daily price chart.
The current price of the LDO is currently at $2.10 and has dropped by 1.47% during the last intraday trading session. The sellers are trying to acquire the market of LDO.
Technical Levels
Support Levels:$0.8911 and $0.4429
Resistance Levels: $2.8141 and $3.3057
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
