Lido price eyes 30% upside as TVL hits ATH amid Ethereum rally

Lido price is holding key support and positioning for a potential 30% rally, as the protocol’s TVL surged to a record $41 billion in dollar terms amid Ethereum’s ongoing uptrend.

Lido DAO ($LDO) price has recently staged an impressive ~92% rally, climbing from a $0.85 dip after a delayed breakout from a double bottom formation to a $1.63 peak. That $1.63 high marked the second higher high since the price bottomed at $0.63, solidifying a shift to a bullish trend structure. Notably, Lido price surge coincided with Ethereum ($ETH) surging nearly 9%, driven by ETF inflows, bringing it close to its $ATH.

Lido price is now in pullback mode, having dipped to a low of $1.32 yesterday, before rebounding to $1.40 at press time. It looks like the price is gearing up for another leg higher from here based on the strong buy-side reaction at that $1.32 low, which left a long lower wick on the daily candle. This wick formed right above the prior breakout zone ($1.29), signaling that buyers aggressively defended it, as well as above the 20-day EMA ($1.220).

Additionally, the pullback volume is much smaller compared to the breakout volume, which may mean that the drop was more about shaking out weak hands rather than a reversal.

If buyers continue to hold this support, the path toward a retest of the $1.63 high is open, with a potential breakout targeting the $1.85–$1.95 resistance zone — representing roughly a 32%–39% upside from the current $1.40 level.

However, there’s a bearish divergence on the RSI, suggesting that momentum is waning. If buyers fail to push through $1.63 with strong volume, $LDO could face a deeper pullback, with $1.29 as support.

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Source: TradingView

Lido’s TVL hits $ATH as protocol weighs buybacks

Lido’s bullish price action comes as the protocol’s total value locked hit an $ATH of $41 billion in dollar-denominated TVL, as the team announced 2 days ago. This is particularly significant amid Ethereum ongoing rally, as Lido is an $ETH staking protocol that allows users to stake their $ETH without locking it up directly on the network.

In the long term, Lido could see a potential bullish catalyst as governance discussions are currently exploring a triggerable $LDO buyback mechanism, according to the August 14 Lido Tokenholder Update Call. Lido cofounder Vasiliy Shapovalov proposed implementing “triggerable rails” that would allow stETH to be used for $LDO purchases through a system called NEST. He pointed to potential regulatory clarity in the coming weeks and targeted a framework selection within the next 2-3 months. A formal proposal is expected to be published on the Lido forum “in the coming days.”

Af Lido’s Dynamic Buyback Program is implemented, the project would repurchase $LDO from the market, reducing circulating supply, which, all else equal, can create upward pressure on Lido price.