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- 1 LIDO price prediction suggests that LIDO tokens may fall under bear’s hold.
- 2 LIDO price is down by 8.39% in the last 7 days on the daily chart.
LIDO price prediction indicates that bears are making an attempt to break out of the wedge pattern. The price is forming a red candle below the support zone but it is yet to give a close below it. If the bulls lose their hold over the price action it can see a downfall within the next few days.
The technical indicators, market structure, and price action are all pointing toward the fall of bulls at present. However, the closing of the red candle with a substantial bearish momentum will prove to be the last nail in the provable coffin of bulls. There is a notable fall in the volume according to the volume sticks which indicates that over the period of a few months, the buying and selling activity among the investors have declined.
The price is not respecting crucial EMA levels on a daily timeframe. This is an indicator that a major trend has not been established yet.
LIDO’s price is currently trading at $1.94 with a 29.03% fall in the 24-hour trading volume and has a market cap of $1.7 Billion.
A Surge In Bearish Pessimism In LunarCrush Platform
According to LunarCrush, multiple parameters indicate that there is a fall in interest of the community regarding LIDO token. The total bullish sentiment parameter has reduced by 22.33% and the total social engagement metrics are seeing a fall of 27.07% within the past week.
The 24-hour trading volume has declined by 29%, indicating less activity among buyers and sellers regarding LIDO.
LIDO Price Prediction: Technical Analysis of LIDO Price On Daily Chart
The RSI line has almost approached the oversold level. The RSI line is moving near 33.79 points and the 14 SMA provides resistance at around 33.79 points. The RSI line indicates that the price of the LIDO token may soon see a decline further following the price action.
Stochastic RSI has breached the median line. The present value of stochastic RSI is 22.81 points it may soon reach the demand zone.
Conclusion
According to the analysis, LIDO price prediction indicates that the price is forming a red candle below the support zone though it is yet to give a close below it. Investors might prefer to wait to get all the technical indicators and closing of the candle before entering the market. The community is not active across multiple social media platforms regarding the LIDO token.
Technical levels
Support – $1.800
Resistance – $2.200
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and 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.
