The cryptocurrency Lido DAO (LDO) continues to capture traders' attention following a recent drop. Currently, LDO is trading at $0.842, reflecting a 4% decrease over the last 24 hours. This article analyzes current support levels and forecasts potential future movement.
Current Price and LDO Support Level
The current price of Lido DAO is $0.842, showing a decline of 4% over the past 24 hours. Notably, the token is trading above the critical support level of $0.8319, although the overall decline is significant. Attention should be drawn to the resistance level at $0.8903 that has been demonstrated during the recent rise.
Channel Structure and Growth Forecast
Technical indicators from the daily chart suggest a defined channel, with LDO fluctuating between $0.64 and $1.25. The current price sits just below the resistance level at $0.8903. If LDO secures a close above this level, analysts predict potential movement towards $1.20, which aligns with the upper boundary of the channel.
Short-Term Levels and Market Reaction
LDO's 24-hour range sits between $0.8352 and $0.8922, showing narrow but active intraday movements. With BTC and ETH pairings stable, the near-term focus remains on horizontal resistance zones. Support levels around $0.8319 and closes above $0.8903 will play pivotal roles in ensuring the continuation of the bullish trend.
The current situation regarding Lido DAO emphasizes the importance of support levels and potential movement areas. A breakout of the key resistance level at $0.8903 could signal a move towards $1.20, while support at $0.8319 will be critical for any upward progression.
