Lido DAO (LDO) prices have been trending upwards since mid-July. After reaching a local high around $1.30, the price has pulled back and is currently hovering around $1.09.
Market Trends for LDO
Since mid-July, LDO's price has moved up thanks to a breakout above key moving averages and overall market strength. After breaking out at $0.85, the recent rally led the price to reach the range of $1.25–$1.30. Following that, it saw some pullback as sellers entered.
Support and Resistance for LDO
One interesting aspect on the chart is the ascending trendline established since mid-July, which has acted as a launchpad for multiple rallies. The current support area is between $1.05–$1.09. If the price holds in this range, it could imply that the uptrend remains in play. Conversely, the next support level is indicated by the 100-period simple moving average (SMA) near $0.946.
Future of LDO
If buyers manage to step in and the price turns around, LDO will need to clear resistance between $1.15 and $1.20. A breakout above this level would lead to a significant test at $1.30. Further breakouts could see price move towards $1.35 and higher.
The current situation in the LDO market requires close attention to how the price reacts to key support and resistance levels. The future price movement may depend on whether LDO holds the ascending trendline.
