$LDO /USDT Price Analysis: Strong Bullish Momentum

$LDO /USDT is currently trading at $2.29, showing a 16.60% increase over the last 24 hours. The price has reached a high of $2.301, signaling strong upward momentum supported by increasing trading volumes.
Key Resistance Levels:
$2.30: Immediate resistance; breaking above this level could lead to an extended rally.
$2.35: Next key resistance level to watch for a continuation of the bullish trend.
Key Support Levels:
$2.20: Initial support level; holding above this level is critical to maintain the uptrend.
$2.02: A strong support zone to monitor in case of a pullback.
Trade Setup:
Bullish Scenario:
Entry: Above $2.30
Targets: $2.35, $2.40
Stop Loss: $2.20
Bearish Scenario:
Entry: Below $2.20
Targets: $2.10, $2.02
Stop Loss: $2.30
Technical Indicators:
RSI: At 86.40, indicating overbought conditions, suggesting a possible correction or consolidation.
MACD: Positive crossover, confirming strong bullish momentum.
Volume: Significant increase, reinforcing buyer dominance.
Conclusion: LDO/USDT is exhibiting strong bullish momentum but is approaching overbought territory. Traders should monitor key resistance and support levels closely. Tight risk management is advised given the elevated RSI levels.