Lido (LDO) Leads with 13% Gain after Ethereum ETF Approval – Key Levels to Watch 🔥🔥🔥

Lido (LDO), a liquidity staking protocol for Ethereum (ETH) and Polygon (MATIC) blockchains, has seen a sharp price increase over the past 24 hours after the U.S. Securities and Exchange Commission (SEC) approved a spot Ethereum ETF application.

The LDO native token has recovered to the $2.30 level and is expected to end a month-long downward trend since the market correction in April.

Ethereum ETF approval could drive growth in the LSD industry. The SEC-approved proposal comes from well-known entities such as BlackRock, Grayscale, Bitwise, and others.

The new index fund approval will drive growth in the Liquidity Staking Derivatives (LSD) space, and Lido is a leader in the space.

LDO peaked at $2.49, and large investors showed interest. Spot On Chain data showed that six new wallets/whales withdrew 4.3 million LDO ($9.59 million) from the BA exchange in the past 24 hours.

Lido's trading volume reached $350 million in the past 24 hours, up 78.60% from Thursday.

In the future, bullish investors should focus on the next resistance level on the LDO/USD daily chart, which is $2.55, which may lead to a retest of $2.70 and $2.90. The $2.21 area is an important support level.

If you are in the process of chasing ups and downs, then you might as well slow down your mentality and learn to accumulate little by little. The same is true for success. To succeed, you must first have the belief of success, and then continue to work hard for this belief. If you do these two things, success will not be far away from us.

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