Crypto Express

06/06 12:02

What’s Next for Lido DAO (LDO) Price?

LDO is neither oversold nor overbought, as the RSI is 46.07 and shows a neutral trend with a slight bearish tendency. It appears that the RSI reading could allow for more downside before oversold levels are reached, which might lead to a bounce. The indicators are still not giving any signs of a bullish divergence that could indicate the market is about to change direction.

Currently, social sentiment analysis shows that market participants are mostly pessimistic, as the reading is -0.151. Moreover, the MACD line is below the signal line, which indicates that the indicator is bearish and supports the downward trend. The histogram indicates that buyers are not active, so sellers still control the market.

According to support and resistance, LDO is currently encountering resistance in the $0.90-$1.00 area, as these levels used to be support levels before. The next important resistance can be found around $1.20, which is where several bounces were denied earlier this year. On the other side, the token has reached a key support area at $0.75, and a drop below this point could lead to a fall toward $0.60.

Lido DAO (LDO) is expected to have a cautiously bearish technical outlook shortly. A recovery that lasts would only happen if the token breaks above $1.00 and shows strong trading volume. Before that, traders ought to watch the $0.75 support level, as breaking it could make the downtrend stronger and bring the price closer to new lows.

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