Lido DAO (LDO) Crypto Price & Market Cap Analysis: Can It Maintain Its High Path?

Lido DAO manages liquid staking protocols for ETH 2.0, allowing users to stake ETH and receive stETH, a liquid representation tradable in DeFi

Lido DAO (LDO) is a decentralized autonomous organization (DAO) that manages the liquid staking protocol for ETH 2.0. Lido allows users to stake ETH and receive stETH, a liquid representation of staked ETH that can be traded in decentralized finance (DeFi) applications.

The DAO is governed by LDO token holders, who can vote on protocol parameters, research and development funding, and other proposals. Lido was founded by Jordan Fish and Konstantin Lomashuk in 2020.

The price of Lido DAO (LDO) has seen a significant increase over the past few days, with a gain of 8.4% in the last 24 hours. The crypto sentiment is bullish.

The token, which serves as the governance token for the Lido liquid staking platform, has seen a substantial decrease in value since its all-time high. At the time of press, LDO is trading at $2.3.

The crypto price volatility is higher as per the analysts, and the crypto trading volume has advanced by 12% in the last 24 hours from the press time, resulting in a traded value of $184.615M. Following this, the crypto market cap has further advanced by 4%.

Lido DAO (LDO) Token Price Analysis

The Lido DAO crypto price recently broke above crucial resistance levels and sustained this position. Strong bullish candles are evident on the charts, indicating the potential for a further surge in the crypto trading price.

Previously, the Lido crypto price followed a lower low swing structure, forming a descending triangle pattern on the charts. However, recent market activity has seen the bulls dominate, resulting in a strong breakout, the formation of bullish candles, and a significant surge in trading volume.

The price is accumulating at higher levels, suggesting another breakout may be imminent. The overall price structure remains bullish, indicating continued upward momentum shortly.

LDO/USD Chart by TradingView

The EMAs present a contradictory signal to the overall LDO token price structure, with the 50-day and 200-day EMAs trading in a death cross. Despite this bearish indication, the crypto price has closed above the 200-day EMA on the daily chart.

If the upward momentum continues, this could potentially lead to a golden cross of the EMAs on the daily chart, signaling a longer-term bullish trend.

Additionally, the MACD indicator is presenting a bullish outlook. The MACD metrics have crossed above the zero level, closing in a bullish trajectory, which suggests continued upward momentum.

The RSI also strengthens the bullish outlook, having crossed above the 14-day Simple Moving Average and the 50-level, indicating strengthening bullish momentum that could push the price to higher levels.

Related: Lido Finance Completes Integration With Coinbase Wallet

Lido DAO (LDO) Technical Analysis: Key Support and Resistance Levels

The LDO crypto price is trading above the 200-day EMA, supported by strong bullish candles and increased trading volume. Despite a current death cross, the potential for a golden cross indicates a bullish trend.

Indicators like MACD and RSI suggest continued upward momentum, which is supported by strong market interest and liquidity. The LDO crypto support levels are $1.50 and $2.0, respectively, followed by resistance levels of $3.0 and $4.0.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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