The major investment firm Pantera Capital has recently acquired Lido DAO (LDO) tokens amid a price decline, attracting attention to potential future price movements.
Pantera Capital's Acquisition
Pantera Capital, one of the larger investment firms in the crypto space, purchased $12.9 million worth of LDO tokens. These acquisitions were made at an average price of $1.80 per token and were distributed across two separate wallets.
Lido DAO's Price Movement
Lido DAO's price has fluctuated within a narrow range bordered by support at $1.76 and resistance between $1.90 and $2.00. As of writing, LDO is trading around $1.77, suggesting consolidation near the support area.
Technical Analysis of Lido DAO
The MACD indicator suggests slowing upward momentum, which may indicate a pullback or sideways movement soon. The positive histogram trend highlights bullish control, though weakening momentum could signal a short-term dip before potential upward movement.
Large investor purchases, such as those by Pantera Capital, may indicate potential upward movement for Lido DAO. However, monitoring key support and resistance levels is crucial for understanding future price directions.
