Lido DAO (LDO) demonstrates strong bullish momentum after breaking key resistance. The Dual Governance upgrade has also been completed, improving the project's outlook.
LDO Market Breakout
Lido DAO (LDO) has broken a significant descending resistance trendline, triggering strong bullish momentum in the market. According to World Of Charts, the asset is currently trading around $0.97. This resistance had been in place since April, making the breakout technically significant. Analysts noted visible accumulation and rising volume as evidence supporting the breakout. The chart indicates a projected target of $1.65, representing a 72% increase from the breakout level.
Completion of Dual Governance Upgrade
On July 15, Lido Finance announced the finalization of its Dual Governance upgrade, completing the last phase of its Scorecard initiative. The update brought all assessment items to either 'Okay' or 'Good.' Over the past three years, the project addressed every 'Needs improvement' item, aiming to align more closely with Ethereum's decentralization principles. Lido emphasized its focus on building secure and trustless liquid staking solutions.
Bullish Momentum Maintenance
At the time of writing, Lido DAO (LDO) is trading at $0.9262, marking a 9.86% increase over the past 24 hours. The current price is testing the $0.93 resistance level, while short-term support holds near $0.81. Analysts suggest that a sustained breakout above $0.93 could trigger further upward movement. The price trend remains bullish, supported by both technical breakout signals and strong volumes.
Given the positive developments, such as breaking key levels and the successful completion of the Dual Governance upgrade, Lido DAO shows strong potential for further growth and market position strengthening.
