Lido Dao price has erased recent gains! What is the LDO price this month?

The post Lido Dao price erases recent gains! What is the LDO price this month? First appeared on Coinpedia Fintech News

Lido Dao price has seen positive price action over the past week with the coin adding over 10% to portfolios during this period. Additionally, the price continues to trade in an upward channel pattern, highlighting the strong bullish influence for this token in the cryptocurrency space.

LDO price traded in a narrow space between $2.326 and $2.468 for a while before the price lost momentum and recorded a downward trend. Lido Dao then traded in a consolidated range between $1.974 and $2.326 for about two weeks.

The altcoin then gained significant momentum, resulting in the LDO token breaking through the resistance level. Additionally, the Cross EMA 50/200 displayed a Golden Cross, highlighting the strong bullish sentiment in the cryptocurrency industry.

Since then, the chart has shown the price continuing to rise. Additionally, the 50-day EMA cross acts as a dynamic support for the Lido Dao price, suggesting a strong bullish influence for this coin in the cryptocurrency market.

MACD displays a rising red histogram, indicating increasing selling pressure in the market. Moreover, the averages show bearish convergence, suggesting that prices will continue to lose momentum in the future.

Will LDO prices rise again?

If the bulls hold the price above the support level of $3.159, LDO price will regain momentum and test the resistance level of $3.398 over the weekend.

Additionally, if the market maintains the price at that level, Lido token will attempt to test the highest resistance level of $3.60 in the future.

Conversely, if a trend reversal occurs, the price will continue to lose momentum and move lower to test the $2.971 support level. Moreover, if the bears continue to dominate the market, they will move lower and prepare to test the lower support level of $2.825 in the week ahead.