Lido DAO Price Analysis: Unexpected Bullish Move in LDO, but How ETH Impacts This Crypto?bit2main
- Lido DAO token displays massive buying force as per the last evening hike.
- Bulls found a strong support zone near the 20 day moving average.
- Buyers observed an offensive in the last 24-hours, thus, trading volume jumped over 1280%.
As Ethereum investors stake their assets in the Lido liquidity pool easily without having any minimum limits. Last night buyers saw a pump in ETH, where the price moved higher than the $1100 level. Therefore, Lido DAO increased widely in the last 24-hours while price hits the conceptual round level of $1.0.
However, Lido DAO token was sliding down from its all-time high of $18.62, but this recent bounce spread the rays of hope. Speculators were really surprised after seeing a 47% gain late night. This sharp rise may lead LDO price towards $2.0 Mark by the end of July.
On 18 June, LDO price registered all-time low at $0.406, a given level turned into a vital hedge zone of bulls. On the flip side, crypto resists the psychological round level of $1.0, resulting in the LDO token trading at $0.824 Mark at the time of writing.
The LDO cryptocurrency saw a slight decline in price today, which shows that the bulls are still active. Although, at press time, price is above the 50 day moving average (blue). If bulls maintain altcoin above this level, then immediate resistance will definitely break soon.
Meanwhile, the maker cap of Lido DAO token increased above $250 Million in the last 24-hours, with a gain of 25%. Buying pressure suddenly came as ETH maintained $1100 level, therefore, trading volume jumped over 1280% in the last 24-hours.
Super trend indicator turned into bulls favor
After a solid bounce-back above the 20 day moving average, LDO token overcame the red zone of the Super Trend indicator last night. Meanwhile, the price outlook is above the buying zone of the given indicator.
During uptrend, the Stoch RSI expands higher above the upwards trendline (white), which reaches the overbought zone.
The retracement phase was expected in Lido DAO token after strong rebound. If buyers accumulate the altcoin price above 50 DMA then a sharp rally may occur soon.
Support level – $0.60 and $0.40
Resistance level – $1.0 and $1.5
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