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Cryptocurrency News Articles
Will the Lido DAO (LDO) Crypto Price Shoot Up or Decline Further?
Oct 21, 2024 at 04:12 am
Sellers have been strong throughout this year, and the Lido Dao (LDO) price has lost many crucial support levels.
Cryptocurrency analysis firm IntoTheBlock has highlighted some key metrics for Lido Dao (LDO) crypto, which is currently trading at $1.14. The token has shown resilience above the psychological level of $1 since August. Moreover, LDO price has formed a lower time frame pullback.
Also, the token has formed an inverted head and shoulder pattern on the daily time frame. If buyers show interest, the LDO price may easily extend to the 200-day EMA. Once the price overcomes the 200-day EMA, strong buying pressure can be anticipated. If the price surpasses the $2 mark, a momentum of loss recovery can be seen.
On the other hand, if the LDO crypto price slips below the 20-day EMA, it could be a selling signal. Once the price loses the strong support level of $1, massive selling can be seen. Moreover, it could be challenging for buyers to take over the charge again.
Coming to the technical indicators, the RSI has displayed bullish divergence on a daily time frame. It could lift the price for a while. The MACD has triggered a golden crossover with the Signal line and is heading for the positive territory. The histograms have flipped to green, which could invite buyers.
As per IntoTheBlock’s analysis, the LDO price is displaying a bullish structure on a daily time frame. The token has formed a consolidation pattern and is trading within a range. If buyers show interest, the LDO price is expected to shoot up soon.
Moreover, the price hasịp formed an inverted head and shoulder pattern on a daily time frame. If buyers show interest, the LDO price may easily extend to the 200-day EMA. Once the price overcomes the 200-day EMA, strong buying pressure can be anticipated. If the price surpasses the $2 mark, then a momentum of loss recovery can be seen.
On the other hand, if the LDO crypto price slips below the 20-day EMA, it could be a selling signal. Massive selling can be seen once the price loses the strong support level of $1. Additionally, it could be challenging for buyers to take over the charge again.
Turning to the technical indicators, the RSI has displayed bullish divergence on a daily time frame. It could lift the price for a while. The MACD has triggered a golden crossover with the Signal line and is heading for the positive territory. The histograms have flipped to green, which could invite buyers.
Lido Dao (LDO) Price Prediction
The technical indicators are showing bullish signs for the LDO price. The RSI has displayed bullish divergence on a daily time frame, and the MACD has triggered a golden crossover. The Signal line is heading for the positive territory. This could potentially lift the price for a while.
However, keeping an eye on the $1 support level and the 20-day EMA is essential. They are crucial for determining the future direction of the price. If the price surpasses the 200-day EMA and the $2 mark, it could signal a potential loss of recovery momentum.
On the other hand, a slip below the 20-day EMA could be a selling signal. This could lead to massive selling if the strong support level of $1 is breached.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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