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- 1 Lido Dao token witnessed a breakout and is glimpsing bullishness on the charts.
- 2 LDO token is ready to outperform the market and will continue to extend the gains.
Lido DAO (LDO) token revealed an inverted head and shoulders pattern breakout and glimpsed a surge in the recent sessions. Amidst the market volatility, the Lido token contrives to extend the upward movement and continue to reward its investors. LDO token recovered over 70% from the bottom, sprinkling gains decisively. Furthermore, the trend is intact, and buyers are showcasing their giant muscles, which gives the belief that the token is keen to soar the gains in the following sessions.
The LDO token price has surpassed the upward trendline above $3 and has approached the bullish trajectory. A bullish crossover was also spotted, and the LDO price has escaped the significant moving averages, delivering bullish momentum in the recent sessions. Moreover, the price action signifies the follow-on buying momentum and the LDO token continued to form higher high swings.
At press time, Lido Dao token (LDO) trades at $3.62 with an intraday drop of 1.69%, showing a pause after a spike in the recent sessions. Moreover, the trading volume increased by 10.45% to $234.29 Million, highlighting investor interest. The pair of LDO/BTC was noted at 0.000000788 BTC, while the market cap is $2.93 Billion. Analysts are bullish and suggest that the Lido Dao Token price will continue to skyrocket the gains and reach $5 soon.
Lido Dao Token On Daily Charts Displays Inverted Head and Shoulders Pattern
On the daily charts, the LDO token price showcased a gigantic upmove and snared the bear cartel in recent sessions. Per the Bitcoin ETF news, Lido Dao’s price was vastly influenced and showcased the volatile move, which led sellers into trouble, and a spike was witnessed above $3. Moreover, the technicals suggest that the LDO token has just instigated the up move, and further delights are coming.
The relative strength index (RSI) curve stayed in the overbought zone close to 65, showcasing a positive crossover. The MACD indicator showed a bullish crossover and suggests that the Lido Dao token will continue to extend the gains in the following sessions.
Lido DAO Token On Weekly Charts Enlisted Double Bottom Breakout
On the weekly charts, the LDO token price retested the 52-week high mark of $4 and is ready for a ride to surpass the supply zone. Moreover, the technical indicators reveal a buy signal, and investors are readying for a surge and continuing to add long positions.
Summary
The Lido Dao token (LDO) price fled the trendline hurdle of $3 and registered a breakout in the recent sessions. Moreover, the trend is bullish, and short covering moves may lead the LDO price toward $5 in the following sessions.
Technical Levels
Support Levels: $3 and $2.80
Resistance Levels: $3.80 and $4.00
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
