Lido DAO (LDO) Price Prediction: Will the Upswing Continue?

The Lido DAO is a Decentralized Autonomous Organization that decides on the key parameters of liquid staking protocols through the voting power of governance token (LDO) tokens.

The Lido DAO is a Decentralized Autonomous Organization that governs the key parameters of liquid staking protocols through the voting power of governance token (LDO) tokens. It enables users to earn staking rewards without locking up assets.

The Lido DAO Liquid staking protocol consists of three processes:

* Staking: Stake any amount of your token to begin earning daily staking rewards.

* Minting: Receive stETH based on the amount of ether deposited into the protocol combined with staking rewards, minus penalties at a 1:1 ratio.

* Yield using sETH: Use your stETH across DeFi to compound more on top of your daily staked rewards.

LDOUSD encountered a minor pullback after a minor sell-of.

Any daily close above $4.10 confirms further bullishness.

LDOUSD surged more than 40% in the past two days. The pair trades well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $2.424 and is currently trading around $2.272.

The bullish invalidation will occur if the pair closes below $1.40. On the lower side, the near-term support is $2. Any break below the target is $1.70/$1.40. Any violation below $1.40 targets $0.90.

The immediate resistance stands at around $2.50. Any breach above confirms bullish continuation. A jump to $2.70/$3 is possible. A surge past $3 will take it to $4.

It is good to buy on dips around $2 with SL around $1.40 for TP of $4.

News source：https://www.kdj.com/cryptocurrencies-news/articles/lido-dao-ldo-price-prediction-upswing-continue.html

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