Lido DAO (LDO) Jumps 32% as Breakout From Descending Wedge Signals Bullish Reversal
LDO has pushed past a crucial resistance level at $1.36, aiming for higher levels. The next significant resistances are $2.04 and $2.48
Lido DAO (LDO) price soared 32% in 24 hours, boosting its market cap to $1.22 billion, a 19.3% increase. Trading volume also surged by 188.65% to $306.58 million.
This volume spike indicates strong buying pressure that could support further gains. At press time, Lido DAO trades at $1.36, reflecting a bullish sentiment that may fuel continued upward momentum.
Chart analysis: Breakout from a descending wedge and price prediction
The recent price action on LDO’s chart shows a breakout from a descending wedge pattern, which usually signals a bullish reversal. As a result, this breakout suggests a potential upward trend.
LDO has pushed past a crucial resistance level at $1.36, aiming for higher levels. The next significant resistances are at $2.04 and $2.48, which could serve as key price targets. If Lido DAO continues this breakout, a sustained rally might be on the horizon.
With the current momentum, the $2.04 level seems to be within reach. Moreover, if LDO maintains its upward pace, breaking past $2.04 could lead to a push toward $2.48. This resistance point, if surpassed, would spark even stronger bullish movement.
However, achieving this target depends on maintaining buying interest. Strong volume and price strength will be crucial for LDO to hit these ambitious levels.
LDO price DAA divergence: Bullish confirmation?
The Price DAA Divergence chart shows a 96.7% positive divergence, indicating that on-chain activity aligns with the recent price surge. This divergence usually precedes further gains, signaling strong support from user activity.
This on-chain strength enhances confidence in a sustained rally, adding weight to the bullish scenario.
Market sentiment: Open interest surge strengthens outlook
Furthermore, open interest surged by 47.4% to $112.97 million, suggesting that traders are increasingly engaging with LDO.
This increase in open interest, along with rising volume, points toward a bullish sentiment in the derivatives market, indicating growing confidence in LDO’s rally potential.
The above is the detailed content of Lido DAO (LDO) Jumps 32% as Breakout From Descending Wedge Signals Bullish Reversal. For more information, please follow other related articles on the PHP Chinese website!

This final deposit, made three hours ago, marks the end of a month-long process of unstaking and offloading 2,000 BTC that came from Binance withdrawals

output:input: Bitcoin has a bull case price target of approximately $2.4 million by 2030. The report lays out a comprehensive modeling framework based on Bitcoin's total addressable market (TAM) potential

Tokyo-based investment company Metaplanet has crossed the 5,000 Bitcoin mark, strengthening the company’s approach to becoming one of the largest corporate holders of digital assets.

Coinbase has broadened its alliance with digital payments powerhouse Paypal, aiming to deepen the impact of Paypal USD (PYUSD), a stablecoin tied to the U.S. dollar.

Bitcoin is now setting the stage for what could become a massive bull run. After surging more than 26% since April 9, BTC is trading firmly above the $90K level

The U.S. Securities and Exchange Commission (SEC) has delayed its decision to approve the Grayscale Polkadot ETF.

Top 10 free-to-view market software websites are recommended: 1. Binance, 2. OkX, 3. Sesame Open Door (KuCoin), 4. CoinMarketCap, 5. CoinGecko, 6. TradingView, 7. Investing.com, 8. Yahoo Finance, 9. Glassnode Studio, 10. LunarCrush, these websites provide real-time data, technical analysis tools and market information to help you make informed investment decisions.

To safely access the Binance official platform and download the APP, you can use the following steps: 1) Use a trusted search engine to search for "Binance" and check the domain name; 2) View the official social media to obtain the URL; 3) Consult the official customer service to confirm the URL; 4) Use a trusted navigation website. The steps to download the APP include: 1) Visit Binance official website; 2) Find the APP download portal; 3) Select the download method (scan the QR code, download the app store, and directly download the APK file).

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

WebStorm Mac version
Useful JavaScript development tools

Safe Exam Browser
Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

SublimeText3 Linux new version
SublimeText3 Linux latest version

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

SublimeText3 Mac version
God-level code editing software (SublimeText3)
