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Lido DAO (LDO) Price Prediction: Strong breakout confirms bullish pattern, can long positions defend the $1.00 area?
Lido DAO (LDO) has made significant progress, reporting at $1.11 in the early Asian session today (18), with a daily increase of over 20%. On the 12-hour chart, the last candle alone rose by more than 12%. The breakout is very clean, with strong bullish candles and almost no upper wicks, indicating that buyers are clearly in control.
Crypto analyst WorldOfCharts noted that LDO price has pumped over 15% and hinted that it may rise another 50% in the future.
At the same time, another analyst, Seth Fin, pointed out that a new buy signal appeared on the daily chart and stated that considering the scale of its DeFi ecosystem, LDO's market value of 900 million USD still looks cheap.
LDO Price Analysis: Chart Setup Indicates Bullish Trend Reversal
According to Captain Altcoin, the LDO price has been below the descending trend line since April. This trend line has been maintained in May and June, rejecting all attempts to break through.
But this week, LDO has finally broken through this resistance level strongly. The price is currently forming higher highs and higher lows, which is a typical sign of a trend reversal.
This breakthrough has also pushed the LDO price above the 50-day and 200-day moving averages, which traders often see as a green light for further pump.
The measured moving target points to $1.17, and if the momentum continues, $1.20-$1.25 will be the next key area to watch.
(Source: Trading View)
LDO Support and Resistance Levels Determine Short-term Trends
Currently, the support level is around $1.00 to $1.02, and after breaking through, this area turns from resistance to support.
If the LDO price breaks below that level, the next level to watch will be $0.90, followed by $0.80. Earlier this summer, demand for LDO at that price level was strong. On the upside, the next challenge is $1.15-$1.30.
This area has previously acted as a resistance level, and some traders may take profits here. If LDO successfully breaks through this area, it may then move into the $1.70 to $2.60 range.
(Source: Trading View)
The Strengthening of Social Sentiment Behind Technical Breakthroughs
Analysts support this breakout. WorldOfCharts calls the breakout at $1.00 a "key" move, and expects that if this momentum continues, there will be greater pumps.
Seth Fin pointed out the system's buy signal and mentioned that the fundamentals of LDO can support a higher valuation.
With a strong technical backdrop, a shift in market structure, and increasing attention from traders, the price of LDO is beginning to show room for a pump. If the trend persists and trading volume remains strong, $1.30 may be the next target.