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- The LDO price is still below the 20 and 50 days of the Daily Moving Average.
- The current price of the LDO is currently at $2.27 and has dropped by 6.47% 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.
Investor hopes were raised by the bulls’ endeavor to increase prices, but the bears obstructed their progress. By forcing prices to follow the upward curve, the bulls must rapidly regain investor confidence. Although Lido DAO has a lot of promise, the bears’ market trickery created significant barriers for the bulls. Even though both bulls and bears are striving to accomplish their ideal outcomes for the LDO price, the daily price chart’s erratic fluctuation has made it difficult for investors to identify the coin’s true movement.
The price of LDO is $2.27 right now and has dropped by roughly 6.47% over the last 24 hours. which has caused it to take another move in the wrong path. The supporters must put in a lot of effort to give the coin’s price an uptrend impetus in this bearish trend in order to restore investor confidence. The price may drop to the crucial support level of $0.89 if the traders don’t make an effort to increase the price and recover the currency’s full potential. The price of the currency has an extra support level of $0.44. If the coin’s price hit secondary support, it would be difficult for the bulls to outperform the losers. If the bulls successfully achieve the desired destination, The primary resistance is located at $2.18, and the secondary resistance is located at $3.30.
However, the volume decreased by about 24.49% during the intraday trading session. The volume’s continued drop is an indication that short-selling pressure is intensifying. LDO presently has a volume-to-market value ratio of 0.1828. A negative crossing resulted from the intersection of the MACD and MACD indicators.
The Technical Analysis of LDO
The technical indicator shows the following: Although sellers are trying to push the Relative Strength Index back into overbought territory, it is currently shifting away from it. The average RSI is 44.95, and the present RSI is 46.21. However, the bears now have a chance to prepare for their goals and push the RSI into the oversold zone as a result of the bulls’ absence of movement. The bulls must exert extra effort to bring it to balance. The price of the currency is still higher than the 200-day and 100-day exponential moving averages and lower than the 20 and 50-day daily moving averages.
Conclusion
On the daily price indicator, the LDO is presently experiencing a number of ups and downs. It appears that the bears are gaining control of the situation. On the daily price indicator, the coin’s price is presently moving lower with bearish supremacy. The LDO’s price is present at $2.27 and has decreased by 6.47% over the most recent intraday trading period. The vendors are attempting to take over the LDO industry.
Technical Levels
Support Levels:$0.89 and $0.44
Resistance Levels: $2.18 and $3.30
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
