Lido DAO Continues With Strong Bullish Bias, How High Can Price Go?
September 02 2022 - 12:42PM
NEWSBTC
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) Related
Reading: Why Vitalik Buterin Expected Crypto Crash To Happen
Earlier, ETH Price Battles With $1,600 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 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 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.
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