Crypto King Mazhar
01/25 16:47
Lido DAO (LDO) Price Prediction for January 25 St
Story Highlights
LDO hits key resistance at $2.10, testing past price drops; a breakout could see a 65% surge to $3.50.
LDO sees $7.18M inflows into exchanges, signaling potential sell-off amid recent price surge and increased trading volume.
Lido DAO’s native token, LDO, has captured the attention of crypto enthusiasts following a strong rally in the past 24 hours. However, the token is now testing a key resistance level at $2.10, a level historically associated with selling pressure and price declines.
$7.18 Million LDO Inflows into Exchanges
As LDO’s price surged, on-chain data from CoinGlass revealed an inflow of $7.18 million worth of LDO tokens into exchanges, hinting that long-term holders or whales may be preparing to sell.
The inflows into the exchanges suggest that long-term holders or whales have moved their holdings to the exchanges for a potential sell-off. However, this could lead to selling pressure and further price decline.
Looking at such a dump in the past 24 hours indicates that history may repeat itself.
Lido DAO (LDO) Technical Analysis and Key Levels
According to expert technical analysis, LDO appears bullish but is currently at a crucial resistance level of $2.10. LDO’s daily chart shows that its price has reached this level more than twice, and each time, it has witnessed a price drop of over 28%, from $2.08 to $1.47.
However, this time, due to past history, investors have begun dumping their holdings and speculating that LDO could once again drop by 28% to reach the $1.47 level.
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