Prominent analyst AMCrypto recently shared on X (formerly Twitter) that Lido DAO’s price experienced a strong breakout from its accumulation phase. He noted that LDO is showing exceptional strength, coinciding with Ethereum’s (ETH) potential move toward $4,000. Analysts believe this could propel LDO’s price above $3, marking a substantial shift in its market trend.
LDO Chart Analysis
Lido DAO’s price spent several months consolidating within a range-bound accumulation phase between $1.00 and $1.40. Low but steady trading volumes characterized this period, as buyers accumulated the token at discounted levels while sellers gradually lost control. The breakout above $1.40 signaled a renewed bullish trend, with the price trading well above the accumulation zone.
Chart analysis highlights a clear transition from a downtrend to an uptrend. During the downtrend, LDO experienced lower highs and lower lows, reflecting bearish sentiment. However, the breakout initiated a shift in momentum, confirmed by higher lows and a series of strong bullish candles.
Image Source: X/AMCrypto Current Market Trends and Support Levels
Following the breakout, LDO established a strong support zone in the $1.00–$1.40 range. Analysts view this area as a key foundation for further upward movement. Immediate resistance levels have been identified at $2.00 and $2.50, with a potential target of $3 if the current bullish momentum persists.
The chart also reveals the importance of breakout volume, which plays a key role in sustaining the ongoing rally. As LDO’s price climbs, maintaining trading activity will be essential to breach upcoming resistance levels.
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Ethereum’s Role in Lido DAO’s Price Movement
Ethereum’s price trajectory could play a pivotal role in LDO’s future. AMCrypto suggests that if ETH reaches $4,000, LDO could trade above $3. This correlation stems from Lido DAO’s role in Ethereum staking, making LDO’s price heavily influenced by Ethereum’s performance. The tweet emphasizes LDO’s breakout as a sign of “incredible strength,” aligning with technical indicators that suggest a robust bullish trend.
With its recent price action, Lido DAO has entered a confirmed uptrend. Analysts forecast a short-term target of $2.50–$3.00, driven by strong buyer confidence and Ethereum’s potential rally. For now, the accumulation range serves as a reliable support zone, while upcoming resistance levels may determine the token’s ability to maintain its upward trajectory.
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The post Analyst Says Lido DAO is Finally Waking Up—Here’s Why LDO Price Could Hit $3 Next! appeared first on CaptainAltcoin.
