Lido DAO Continues With Strong Bullish Bias, How High Can Price Go?
The price of Lido DAO (LDO) has shown so much strength despite the downtrend across the market, with Lido DAO (LDO) eyeing a rally to its all-time high of $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 DAO (LDO) Price Analysis On The Daily Chart
LDO token price has shown so much strength creating a higher high after hitting a daily low of $1.6; the price bounced off from this region and rallied to $2.
The price of LDO rallied to a high of $2.2 but has faced resistance; LDO needs to break this resistance at $2.2 to have a chance of trading higher.
LDO price has continued to show so much strength as bulls are ready to push the price of LDO to higher heights.
The price of LDO is currently trading above its support at $1.9, with eyes set for more highs.
Daily resistance for the price of LDO – $2.2-$2.4.
Daily support for the price of LDO – $1.9.
Price Analysis Of LDO On The Four-Hourly (4H) Chart
Four-Hourly LDO Price Chart | Source: LDOUSDT On Tradingview.com
After falling from a high of $4, the price of LDO on the four-hourly timeframe has formed support at $1.6, holding the price of LDO from going lower as this has become an area of demand for LDO price.
The price of LDO formed a bullish symmetrical triangle before breaking out with good volume, and the price continued to rally after a successful breakout.
LDO trades at $2.2 above the 50 and 200 Exponential Moving Average (EMA). The prices at $2.1 and $1.96, corresponding to 50 and 200 EMA, will continue to keep the price of LDO from going lower.
If the price of LDO maintains its structure, we could see the price going higher to a region of $3 as the volume pushing the price of LDO looks bullish for such price movement.
If the price of LDO fails to hold this above 50 and 200 EMA support, we could see the price of LDO retesting the support at $1.9-$1.6, as this has proven to be an area of interest for buyers
Despite being rejected recently from the $2 mark, LDO price has continued to look bullish with more buy volume for this coin.
Four hourly (4H) resistance for the LDO price – $2.2-$2.4.
Four hourly (4H) support for the GMX price – $1.9-1.6.
Price Analysis Of LDO On The One Hour (1H) Chart
Daily LDO Price Chart | Source: LDOUSDT On Tradingview.com
The price of LDO in the 1H timeframe has continued to respect the trendline while creating higher highs; if the price of LDO continues its bullish structure, we could see LDO going past the $3 mark.
If the trendline supporting the LDO token is broken, we could see the price revisiting $1.9, just below the 200 Exponential Moving Average (EMA). The price of LDO is currently trading above the 50 and 200 EMA, acting as support for LDO price in the 1H timeframe.
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 TradingView.com
