Lido DAO (LDO) Price Analysis
Lido DAO is a liquidity staking solution for Ethereum that attracted huge attention during the Ethereum merger. Since then, the native token LDO has also maintained a good trend, which was further intensified when the market turned bullish in the last few weeks of 2023. After a hard fight with the bears, the LDO price has successfully surpassed the key "trend reversal" area and is expected to break through the descending resistance zone in the coming days.
The bullish momentum is gathering in the LDO price rise as the coin refuses to cut the support level. Driven by a huge bullish line (indicating strong buyer support), the price has surpassed one of the key resistance levels at $2.17 and is about to test the next resistance at $2.63. Both of these are trend reversal areas and a clear surpass may indicate strong support from buyers. From a technical perspective, the move may be imminent as the Gaussian Channel has turned bullish and the price is testing the upper band of the channel. (Strategy Introduction)
Meanwhile, the OBV or On Balance Volume rebounded and headed towards the upper band, indicating that a new round of bullish momentum is about to begin. Therefore, Lido DAO price may hit the upper resistance of the triangle, but ETH price must rise sharply.
Ethereum Name Service (ENS) Price Analysis
Ethereum Name Service, a distributed, open, and scalable naming system on Ethereum, has surged more than 15% since early trading. The platform has seen a notable increase in trading volume of more than 40%, breaking through the interim resistance of $25.14. Now ENS price is just 10% away from forming a new yearly high and another bullish push could push the price above $30.
Since the beginning of the year, ENS price has been struggling to break above the critical resistance zone between $27.61 and $29.18. Unfortunately, this move always leads to rejection and a sharp pullback.
Therefore, ENS price is expected to rise slightly and enter the resistance zone, but it may again fail to sustain, triggering a pullback and may eventually enter a long-term consolidation below $25. This trend is expected to change only if the overall market sentiment turns bullish or Ethereum price fails to reach $4,000.
