Lido DAO price forecast demonstrates the bear’s dominance on the daily technical charts as the bears are taking down the price below the key moving averages.
The LDO price has recently broken below the key moving averages of 20 and 50-day, showcasing bears are dominating the bulls and overpowering them.
Lido Dao (LDO) crypto price began to gain bullish momentum on December 19 from the support level of $2.380. The cryptocurrency price was stuck in a consolidation zone between $2.860 and $2.380 in November. The bullish momentum helped the price break the consolidation and rise above it.
Lido Dao’s price surged roughly 93% from the support level of $2.108. The asset price reached a high of $4.052. It faced strong rejection near $4 and has been showing bearish candles for the last few weeks.
The current candle is bearish and may retest the $2.657 support level if the bearish momentum continues. If bulls can push the price above $4, there is a clean move for the price to head toward the next resistance level of $5.
Lido Dao Price Prediction: Will the 50-day EMA Hold Lido Dao Price?
The cryptocurrency price has been trading above 50, 100, and 200-day exponential moving averages, suggesting bullish momentum. Lido Dao’s price is breaking off the 20-day EMA.
LDO Crypto showed bear strength on the daily technical chart, showing profit booking in the crypto. Moreover, the price is trying to sustain above the key EMAs, indicating further weakness for the cryptocurrency.
The RSI curve is near 48, near the neutral zone, with an unbiased outlook indicating bearish sentiment in the cryptocurrency. However, the MACD indicator continued to form a green band, and a bullish crossover appeared, indicating a bullish move in the upcoming days.
If the price breaks its current dynamic support, it may reach the lower levels. However, if buyers support the price, it may bounce back.
Summary
The LDO price analysis highlights the bearishness in the crypto price. Despite this, EMAs still support the daily time frame chart price. Crypto needs to attract more buyers to surge from the current level and start the recovery phase. Moreover, crypto is currently facing short-selling pressure as it struggles to sustain its current level. Furthermore, volume is below average and needs to grow buyer’s support.
Technical Levels
Support Level: The most immediate support level for the LDO crypto price is $2.657.
Resistance level: The most immediate resistance level for the LDO crypto price is $3.232.
