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- 1 LDO price is stuck in a range and shows buyers’ efforts for a pullback.
- 2 Bulls attempted a bounce but faced rejection near $1.680.
Lido Dao token (LDO) price was in a downtrend and persisted in facing rejection from the falling trendline showed lack of bulls’ momentum. However, the bulls anyhow manages to surpass the 20 day EMA, but faces strong rejection near the 100 day EMA indicates strong grip of sellers near $1.70. Furthermore, the price action indicates that sellers have persisted in gaining traction and dominating the battle for the past sessions.
LDO token price has sustained the 20 day EMA cluster and trying to absorb the selling pressure showed that buyers are attempting to regain the momentum and looking for a reversal. Moreover, the chart showcased that the crucial falling trendline is now surpassed. Moreover, LDO token has a fresh chance to register a reversal, but needs a strong momentum to surpass the 100 day EMA barrier.
At press time, LDO token price is trading at $1.583 with an intraday drop of 1.03% shows bearishness on the charts. Moreover, the trading volume increased by 2.78% to $42.10 Million and the pair of LDO/BTC is at 0.0000556 BTC. However, the market cap of LDO token is $1.28 Billion. Furthermore, analysts have maintained a neutral rating and suggest growth aspects for the next sessions.
Will LDO Token Surpass 100 Day EMA Barrier Above $1.70?
On the daily charts, LDO token price is trading close to the support zone of $1.50 and bulls have attempted a pullback and have surpassed the 20 day EMA, but faced a strong rejection near the 100 day EMA indicating sellers grip near $1.70. Moreover, the LDO token price is above the 23.6% zone and is heading to retain the 38.2% zone. Amidst the correction, investors did not let back and have started to make fresh positions which was witnessed in the past sessions.
The RSI curve stayed near neutrality and showed a pullback in the last number of trading sessions. However, a bearish divergence was noted which suggests a negative outlook for the coming sessions.
The MACD shows a bullish crossover and formed green bars on the histogram indicating buyers’ efforts to surpass the 100 day EMA barrier to retain $1.80.
Summary
Lido Dao token (LDO) price has sustained above the 20 day EMA cluster. Buyers are trying to surpass the 100 day EMA barrier. However, the trend is still favoring the sellers and suggests that bulls must surpass the immediate resistance of $1.80 to initiate a recovery. However, if it fails to hold at the 20 day EMA, it will extend the correction toward $1.00. Bulls need to stretch the rebound for a healthy comeback amidst the downtrend for the past sessions.
Technical Levels
Support Levels: $1.50 and $1.30
Resistance Levels: $1.80 and $2.00
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks 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.
