Lido DAO Continues With Strong Bullish Bias, How High Can Price Go?

Lido DAO’s (LDO), despite the current market downtrend, has been showing so much strength. Lido DAO is aiming to rally to $4. Bitcoin’s (BTC) price has shown a little strength bouncing off from key support, leading to most crypto assets popping out from their shell. Data from Binance

Lido (LDO) price analysis on the Daily Chart 

LDO token prices have shown tremendous strength, reaching a high of $2.65 after it fell to $1.6 per day. 

LDO’s price rose to $2.2, but it has met resistance. LDO must break the resistance at $2.2 in order to trade higher. 

LDO prices have continued to be strong as bulls are willing to push them to higher levels.

LDO’s price is trading at above $1.9 and there are eyes on higher highs. 

Daily resistance for the price of LDO – $2.2-$2.4.

Daily support for the price of LDO – $1.9.

Prices Analysis of LDO for the Four-Hourly Chart (4H).

Source: LDOUSDT On| Source: LDOUSDT On

LDO’s price has fallen from $4 after it reached a peak of $1.6 on the 4-hourly basis. This support keeps the LDO price from falling further as there is still demand.

LDO’s price formed a bullish-symmetrical triangle, before it broke out on good volume. The price then continued its rally following a successful breakout.

LDO trading at $2.2 is above the Exponential moving averages (EMA) 50, 200 and 200. LDO will remain at $2.1 and $1.96 respectively, which correspond to 50 and 200 EMA.

LDO could rise up to around $3 if the structure of the LDO price is maintained. LDO volumes are expected to push the LDO price upwards.

LDO’s price could fall below the 50/200 EMA support. LDO may retest the support for $1.9-$1.6 as buyers have shown interest in this region.

LDO’s price was rejected at the $2 mark recently, however it has been bullish and there is more buying volume.

Four hourly (4H) resistance for the LDO price – $2.2-$2.4.

Four hourly (4H) support for the GMX price – $1.9-1.6.

One-hour Price Analysis of LDO Chart

LDO Daily Price Chart | Source: LDOUSDT On

LDO’s 1H price has maintained the trendline and created higher highs in recent times. If LDO keeps its bullish structure we might see LDO surpassing the $3 level.

We could see LDO’s price reverting to $1.9 if the trendline in support of the token breaks, which would be just below the Exponential moving average (EMA) 200. LDO currently trades above the 50-200 EMA. These levels act as support for LDO pricing in the 1H.

One Hourly (1H) resistance for the LDO price – $2.2-$2.4.

One Hourly (1H) support for the LDO price – $1.9.

Featured Image from Coingape. Charts From 

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