Lido DAO (LDO) Technical Analysis Overview:
The 4-hour and daily charts for LDO/USDT indicate a potential bullish reversal after a prolonged downtrend. Key technical indicators and patterns suggest a critical support level has been established, providing an opportunity for a bounce back.
Support Level: The price has found strong support around $1.60, bouncing back several times.
Immediate resistance is around $1.75.
SMA 200: The price is currently below the SMA 200, which is at $1.90 on the daily chart, indicating a bearish trend in the long term.
RSI: Neutral at 50, providing room for upward movement.
MACD: Bullish crossover on the 4-hour chart, suggesting increasing bullish momentum.
Ascending Triangle (4-hour chart): A breakout above $1.75 could confirm a bullish continuation.Support Zone (Daily chart): Repeated tests of the $1.60 support level reinforce its strength
Disclaimer: This article is not financial advice. Trading cryptocurrency involves high risk, and decisions should be based on thorough research.
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