Lido DAO (LDO) token has been drawing attention with its recent strong price movements, and its market value has reached $1.99 billion, attracting the attention of investors. Positive technical indicators such as the golden cross and MACD increase the potential for LDO to reach $3, while investors are closely watching how the price moves through resistance and support levels. Despite the short-term risks, the increasing interest in LDO and its upward trend show a generally positive outlook for the token.
The Lido DAO (LDO) token has been exhibiting a price movement that has been closely watched by investors in recent days. Rising to 65th place in the crypto market with a market value of $ 1.99 billion, LDO is showing a strong upward trend. Increasing by 8.3% in the last 24 hours to $ 2.21, LDO draws attention with the effect of increasing trading volume and market value. The market value of $ 1.97 billion and the trading volume of $ 745 million indicate high demand for the token. LDO, which has gained an important place in the DeFi ecosystem with a total locked value (TVL) of $ 38.45 billion, also attracts attention with its circulating supply of 896 million, which is 89% of its maximum supply. Increasing market interest and strong technical indicators indicate that LDO may test new peaks in the future.
The price of LDO stands out with the formation of a Golden Crossover formation of the 50-day and 200-day Moving Averages. This technical indicator is generally considered a strong bullish signal and indicates that the buying pressure on the altcoin is increasing. In addition, the Moving Average Convergence Divergence (MACD) indicator is making a positive crossover while the decreasing red histograms indicate that the price may remain in an uptrend. Having doubled its price in the last month, LDO is currently testing a significant resistance level of $2,260. If this resistance is overcome, LDO is expected to test the $2,675 level and then the psychological resistance of $3, respectively. This level will also be the highest price in 7 months for LDO.
However, despite the bullish scenario, pullbacks are also possible in the market. If LDO fails to break the $2,260 resistance level, it may retest the $1,840 support level. In case of stronger selling pressure, there is a possibility that the price may fall to $1,410. Therefore, it is very important for investors to carefully follow the movements of LDO at critical levels.