Lido DAO (LDO) Price Tests Support at $1.45 Amid Bullish Signals
Lido DAO's native cryptocurrency LDO is trading at approximately $1.64 after testing the lower boundary of its price channel between $1.45 and $2.40. The token has been in this range since November 25.
- LDO has surged 8% in the last 24 hours, with a market cap of $1.46 billion, ranking 62nd among cryptocurrencies.
- Trading volume increased by 5%, reaching $170 million.
- The TD Sequential indicator issued a buy signal, suggesting a potential bullish rebound.
- A return to the midline at $1.83 could trigger a bullish rally if accompanied by high trading volume.
- The Relative Strength Index (RSI) is at 44.38, indicating neutral to slightly bearish momentum.
- The MACD histogram shows narrowing red bars, indicating waning bearish momentum.
- LDO has gained 4% over the past 30 days amid broader market challenges.
- Support is at $1.45, and resistance is at $1.83; a breakout may push LDO towards $2.10 and $2.40.
- If support fails, LDO could decline to $1.30.
- The cryptocurrency remains 77% below its all-time high of $7.30 from 2021.
Lido plans to expand services for institutional clients and promote stETH, a liquid version of staked Ether.