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ThecoinrepublicCryptocurrencyCan LDO Price Keep On Advancing, As...
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Can LDO Price Keep On Advancing, As Analysts Are Bullish For 2x?

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Lido DAO is known as a decentralized organization that manages liquid staking protocols, and it’s primarily used for staking ETH. Its token LDO serves as the governance token for Lido DAO; the voting weight of LDO is based on simple math, and that is proportional to the amount of LDO a holder possesses.

Furthermore, the Lido DAO (LDO) market cap surged by 3.75%, which stands at $1.843 Billion, and the Volume of the last 24 hours surged by 30.86%, which stands at $159.514 Million. Meanwhile, its TVL is at $33.271 Billion, its liquidity is moderate at 8.69%, and its circulating supply is at 893.005 Nillion LDO out of 1.0 Billion LDO.

What Do Analysts Say About the LDO Crypto?

An analyst who goes by crypto banter tweeted on X that he is optimistic about up to $2.44 in the long term and a short-term opportunity up to $2.15.

Another analyst shows that the breaking of the channel In Lower Tfs is optimistic and expects the price to Move Toward the Descending Trendline. 

Once that downward Trendline has cleared, he aims for a Target of Around 4$.

What Price Action Highlights for Lido DAO (LDO) Over Daily Chart?

The Lido DAO (LDO) has shown good price performance over the daily chart. The price was in an upward trend by Jan 10th, 2024, as it increased from $1.50 support to $4.0 supply level, where the candle closed at $3.774.

After that, the LDO price struggled at supply but ended up in a declining wedge and reached the $1.50 support level by May 16th, 2024. However, the LDO crypto has displayed a strong surge as the price bounced back from a critical support level of around $1.50 on the chart by mid-May. This surge led the price to break out from the declining wedge pattern, but the price failed to pass the $2.70 resistance by May 26th and started deteriorating, and in 15 days, it fell 35.40%.

The LDO asset exhibits bearish strength as it holds below major 50-day and 200-day EMAs. Furthermore, the asset has displayed bearish behavior, as MACD stands at -0.055 below the zero line, and the RSI has flashed at 48.79, meaning that the LDO asset has been below the median line.

LDO Price Forecast!

At press time, the LIDO crypto has experienced a surge of 3.69% in the last 24 hours and traded at $2.053.

Therefore, if the buyer’s interest in the LDO price is boosted, it could keep increasing from the current level. The next target for the price could be to reach the $2.25 and $2.70 mark.

However, the price could fall further if the Lido DAO crypto price fails to stay above the $1.75 level.

Summary

Lido DAO (LDO) market cap stands at $1.843 Billion, its 24h volume at $159.514 Million, and TVL at $33.271 Billion. Its liquidity is moderate at 8.69%, and the circulating supply is 893.005 Million out of 1.0 Billion. Analysts are optimistic about LDO’s long-term goal of $2.44 and short-term goal of $2.15, with another one saying the potential to hit $4. 

Technically, on the daily chart, its Price faced resistance at $2.70, showing bearish indicators. Currently trading at $2.053, it could reach $2.25 or fall below $1.75, depending on the market dynamics and sentiment. 

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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