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- 1 Lido DAO Price Prediction suggests a rise in the long term till it sustains $1.00.
- 2 LDO price has dropped below the 50 and 200 day EMA showcase downtrend.
- 3 The pair of LDO/BTC is trading at 0.00006474.
Lido DAO price prediction suggests a rise for the long term till price sustains above $1.00 support. However, for the short term price seems to be in the correction mode and buyers are struggling to defend the $2.00 support.
LDO price dropped below the 50 and 200 day EMA showcase positional trend is reversing in the downward direction. However, the price is approaching the demand zone and downside seems to be limited.
Lido DAO price is trading at $1.860 with an intraday rise of 0.98%. The 24 hour volume to market cap ratio is at 0.0193. The pair of LDO/BTC is 0.00006474 with an intraday rise of 1.30%. The chart structure of the LDO with the BTC pair forming quite similar patterns as compared to the USDT pair. Therefore, profit booking is visible and sellers seem to be active in both the pairs.
At the mid of March, Lido DAO price gained positive momentum and attempted to break the $3.00 hurdle. Sadly it gets rejected and reverted in a downward direction. LDO price consolidated for a few weeks in the narrow range between $2.00 to $3.00 in the hope of upward range expansion. Recently, the LDO price dropped below the lower range which triggered the negative sentiment and prices continue to decline.
Will Lido DAO price take a U-turn from support?
Lido DAO price has not performed well in the past few months and eroded the previous gains. However, till buyers defend the $1.500 support the probability of rebound remains in the favor of bulls. However, the LDO price will pick up momentum only after the $3.00 breakout.
On the other hand if the sell off continues and prices drop below $1.500 then bears may try to drag it down toward the yearly lows. The overall market sentiment is turning bearish which might negatively impact the prices of LDO and other Altcoins.
The technical analysis suggests Lido DAO price is in the short term correction mode and approaching the demand zone. Therefore, downside seems to be limited and prices may enter into consolidation.
LDO price : Technical outlook
LDO price formed a bearish candle on the weekly time frame and returned back to the previous breakout level. However, the price is near to the oversold territory which might trigger a relief rally for the lower levels. The technical indicators like MACD had generated a negative crossover indicates bearish momentum might continue for some more time. The RSI at 36 sloping down denotes weakness and price may test the oversold territory.
Conclusion
Lido DAO price prediction is bullish and suggests a rise in the long term. However, for the short term it may trade with mild bearish bias. LDO price is approaching the demand zone and downside seems to be limited. The possibility of reaching $4.00 by the end of 2023 will increase when buyers succeed to break the $3.00 hurdle. Till then it may remain in consolidation.
Technical levels
Resistance levels : $2.823 and $3.346
Support levels : $1.000 and $1.500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes 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.
