• The Lido DAO channel pattern implies a breakout ahead, with the upside targets being $1.60, $2.50, and $3.80.
• The consolidation phase still exists, and LDO has to recover the $1.24–$1.50 resistance to affirm a bullish trend.
• Lido DAO voting bullish, showing considerable optimism in spite of short strength.

Lido DAO (LDO) is experiencing slight bearish pressure but also showing resilience for a potential despite the struggling market conditions. The LDO is currently moving inside a channel pattern, which often paves the way to a bullish reversal.

LDO is currently trading at $1.07 with a market capitalization of $966.56 million. The LDO price has fallen by 1.28% over the last 24 hours and 14.67% over the last week. Its trading volume also decreased 25.58% to $42.53 million, reflecting cautious optimism in the crypto sector.

Source: CoinMarketCap

Lido (LDO) Tests $1.05 Support With $3.80 in Sight

The crypto analyst, Jonathan Carter, highlighted that Lido’s LDO native coin is showing resilience as it attempts to test the important $1.05 support level, coinciding with the 50-day moving average. 

Increased volume on the 3-day timeframe indicates increasing participation and a possible buildup for a move. This combination of support and activity defines a potential breakout setup forming within the LDO’s channel pattern.

Source: X

In case LDO holds its ground, technicians are looking at upside targets of $1.60, $2.50, and $3.80, being major resistance levels on the way. Being the leader of liquid staking on Ethereum, Lido stays at the heart of DeFi bullishness, thus supporting the positive sentiment. For the time being, the price is waiting to see if the consolidation propels the rocket to higher valuations.

Also Read: Lido DAO (LDO) Shows Bullish Growth Potential: Will It Reach $6.15?

Lido DAO Technicals Shows a Bearish Structure in Play

Lido DAO’s (LDO) weekly chart indicates a firm selling force since the price was rebuffed around 20 EMA resistance. The 20/50/100/200 exponential moving averages are still stacked above the current position, indicating a bearish long-term market structure. Price movement indicates trouble sustaining the momentum following recent efforts to ascend.

Source: TradingView

The MACD is remaining above zero but is levelling off, suggesting dying bullish sentiment. The RSI (14) is hovering around the mid-level, without sharp overbought or oversold indications. LDO is currently consolidating and needs to retake its $1.24–$1.50 resistance zone to move towards a more positive stance.

Lido DAO Community Hints at a Bullish Reversal

According to the data from CoinMarketCap, the community sentiment reveals a large majority of voters, roughly 84%, being bullish. This reveals a high degree of optimism and belief in a likely upward direction. With a voting of over 26.2K, the sentiment is strongly on the positive expectation side.

Source: CoinMarketCap

Conversely, there are only 16% of participants who indicated a bearish sentiment. This minor group anticipates a potential fall or unfavorable direction. In any case, the bullish sentiment manifests evidently over a bearish perception within the community.

Also Read: Lido DAO (LDO) Eyes Breakout: Double Bottom Pattern Signals Rally to $1.87