Lido DAO’s price is showing signs of a potential breakout as it approaches critical resistance levels. Prominent analyst CryptoBull_360 revealed on X (formerly Twitter) that a strong trendline flip, combined with the Point of Control (PoC), could ignite a bullish rally toward the $1.48 level. This development aligns with broader trends in the Layer 2 ecosystem, with tokens like ETHFI, OP, and ARB also catching traders’ attention.
Lido Dao Chart Analysis: Consolidation Phase and Key Support Zones
The chart indicates that LDO’s price has been in a consolidation phase following a downtrend. The price has consistently respected a red diagonal trendline, acting as a descending resistance. Below this, a robust green support zone between $1.45 and $1.46 has emerged, serving as a key demand area where buyers have historically stepped in to prevent further declines.
The support zone aligns with previous lows, marking it as a strong accumulation area. Traders are monitoring this level as the foundation for a potential bullish move.
Image Source: X/CryptoBull_360
The yellow-highlighted Point of Control (PoC) in the chart represents the level with the highest trading volume. This pivot zone often dictates future price movements. Currently, LDO is trading near the PoC, making this level a crucial indicator for its next directional move.
A breakout above the PoC, especially if accompanied by high trading volume, could confirm bullish momentum. Conversely, failure to maintain levels above the PoC might result in a retest of the $1.45-$1.46 support range.
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Breakout Potential and Resistance Levels
The descending trendline remains a significant resistance zone for LDO. The tweet emphasizes that flipping this trendline into support could trigger a sharp rally toward $1.48. This level corresponds with historical resistance zones, making it a likely take-profit area for traders.
The chart also shows a clear potential trajectory, marked by an upward arrow, indicating optimism for a breakout. Traders are encouraged to watch volume and momentum closely during this critical phase.
CryptoBull_360’s tweet also references other Layer 2 tokens, including ETHFI, OP, and ARB. These tokens are worth monitoring, as they may exhibit similar breakout patterns. The growing interest in Layer 2 ecosystems highlights the market’s anticipation of high-yield opportunities across this sector.
LDO’s price action serves as a focal point for traders, with the potential to set the stage for broader market movements.
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The post Is Lido DAO (LDO) Price Ready to Explode? This Trendline Flip Could Spark a Bullish Surge to $1.48! appeared first on CaptainAltcoin.
