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- 1 LDO price prediction suggests a rise in the short term and suggests LDO might perform well in January 2024.
- 2 Lido DAO price rose 16% in the last session and succeeded in breaking the $2.500 hurdle.
- 3 The LDO token price held $2.00 support and showed a bounce back.
LDO price prediction suggests bulls are returning back on track and more scope for upside is open. It took support near $2.00 and showed a sharp bounce indicating the presence of buyers at the lower levels.
Recently, Lido DAO price shot up 16% and succeeded in breaking out of the $2.500 hurdle. It triggered the positive sentiment and fueled the upward momentum.
Meanwhile, the trading volume also rapidly increased and the price followed the same direction. It indicates that crypto whales and genuine investors might have taken long and expected an outperformance.
In the last two months, LDO price consolidated in the range between $2.000 to $2.500 and formed a base.
Luckily, buyers won the battle inside the range and succeeded in breaking the hurdle. It grabbed the attention and new participants came forward to push the price upwards. The breakout looks reliable and sustainable so more upside looks pending.
At the time of writing, the LDO token price is trading at $2.804 with an intraday downtick of -0.85%. In the last 24 hours trading volume increased by 81% and volume to market ratio stands at 0.0801.
Will LDO Price Go Beyond $4.00 Mark?
LDO price analysis says bulls are dominating and trying their best to give the follow-up momentum. The price behavior of this token is less volatile so speculative activities are low.
Till Lido DAO sustains above $2.00 the buyers will remain active and minor corrections will be easily absorbed.
At present, this token is facing resistance at $3.00 and bears trying to halt the momentum. Yet, buyers look very aggressive so the possibility of a $3.00 breakout is high.
The analysis suggests that LDO is in the bulls’ grip and it might perform well in the coming months. So, investors may look to buy it to generate nominal gains.
Lido DAO Price Turning Bullish on a Weekly Chart
Lido DAO price forming a bullish reversal pattern on the weekly time frame chart. It may attract the attention of those investors who prefer to analyze a higher time frame for better clarity of direction.
Meanwhile, the overall crypto market sentiment is bullish which is positively impacting the price of LDO and other altcoins.
The MACD curve displayed a sharp positive crossover indicating bullish momentum is likely to continue for a few weeks. The RSI at 66 also favors the bulls and suggests more room for the upside is still open.
Conclusion
LDO price prediction suggests the rally has just begun so new participants can enter and participate in the rally. By looking at the chart pattern it can be said that the Lido DAO token may rise further and hit new highs.
Technical levels
- Resistance levels: $3.329 and $3.894
- Support levels: $2.200 and $1.984
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.