The LDO/USDT chart shows a bearish trend. The price is caught within a descending channel, while the RSI and Stochastic Oscillator show negative momentum. This means that the asset will see further decline before any reversal. Also, the weakness of the market was noted with supports at lower levels. Hence, LDO is not bullish for the longer term.
It gives a bullish indication from TOTAL3 itself, the Total Market Cap excluding ETH. The RSI and Stochastic Oscillator show strength in TOTAL3. That simply means the longer-time-frame uptick will most probably happen in almost all altcoins, including LDOUSDT. Thus, the longer-term future of LDOUSDT could continue to remain bullish for the next couple of weeks.
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Others Market cap chart The "Others" market cap has a bullish setup where RSI and Stochastic Oscillator shows positive momentum. Since Others usually set off a bullish trend in all the altcoins, including LDOUSDT, and are on a bullish trend, we expect LDOUSDT to continue the uptrend in the longer time frame. Hence, LDOUSDT is looked very bullish for the upcoming days.
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The Bitcoin Dominance BTC.D chart has shown that Bitcoin dominance is within an uptrend channel. Therefore, with such great momentum through the RSI and Stochastic Oscillator, Bitcoin's dominance might continue higher. Usually, the action of Bitcoin dictates the action of altcoins; hence, this increase in BTC dominance could suggest that LDOUSDT might experience some upward momentum in the higher time frame and confirm LDOUSDT's bullish outlook for the foreseeable future.
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The LDO chart suggests that the price moves upwards and downwards, indicating upsides after retracement. This recent uptick has shown that a bull is around the corner. Key support can be expected around the 1.8 region. With more liquidity going into the market, LDO looks bullish for an extended period due to key support levels and upside momentum.
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Trade Details:
Entry: Around 1.618 ( Join my Binance live for premium crypto signals )
1st Tp: 2.500
2nd Tp: 3.660
3rd Tp : 5.200
$LDO #swap_crypto #LDO/USDT Important 👇
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