Lido DAO (LDO) Price Prediction: Will the Bulls Push LDO to $3 After Breaking Out of a 3-Month Range?

Amid the ongoing crypto market recovery, Lido DAO's (LDO) bullish price action has captured traders' attention.

Crypto market recovery has put Lido DAO’s (LDO) bullish price action in the spotlight among traders. After trading sideways for a while, LDO seems to be breaking out of a tight trading range.

A closer look at the price chart reveals that LDO has been consolidating within a narrow range since late December 2024, with the $2 level serving as a key resistance zone. Throughout this period, multiple attempts by LDO to breach this resistance have resulted in significant price declines.

However, recent price action suggests a shift in market sentiment, which could lead to a price breakout and surge past this resistance level.

A successful breakout would require the asset to close a daily candle above the $2.15 level; otherwise, it would be considered a fakeout. If this breakout occurs, we can expect a strong price surge, with the LDO token potentially rising by 55% to reach the $3.37 level in the future.

Currently, the asset is trading in the green above the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating an uptrend for LDO. On the positive side, the asset’s Relative Strength Index (RSI) is currently below the 55 level, suggesting that the altcoin still has enough steam to continue rising significantly in the coming days.

Following the breakout, on-chain analytics firm Coinglass reveals strong trader interest in the asset. According to data from Coinglass, LDO’s open interest (OI) has surged by 32% in the past 24 hours and 20% in the past four hours, indicating an increase in new positions being opened by intraday traders.

However, the LDO long/short ratio reveals that intraday traders are betting heavily on the long side, as the ratio is currently at 1.14. At press time, over 53.50% of traders are holding long positions, while 46.50% are holding short positions, making the ratio favorable for the bulls.

Currently, LDO is trading near $2.13 and has experienced a price surge of over 16% in the past 24 hours. During the same period, its trading volume also jumped by 60%, indicating heightened participation from traders and investors following the breakout.