- Lido Dao price is flirting with a bullish breakout as bulls pair back earlier losses.
- LDO reaches key level set to break higher.
- Bulls have no choice but to break the descending trendline to avoid a sell-off.
Lido Dao (LDO) price is starting the week on the back foot with a near 2% decline as bulls attempt to pair back earlier losses from the beginning of the week. With bulls undergoing a rejection on the topside near the red descending trend line, there is only one solution left for bulls: north. Expect to see a breakout by Friday, with LDO opening a new batch of gains that could run up all the way to $3.37 for a 35% gain.
Lido Dao price has bulls preparing for only one outcome
Lido Dao price action is forcing the hand of the bulls to go all in and try to create that breakout trade to the upside. After a rejection on the top side against the red descending trend line, the bulls must step up their game to avoid a strong sell-off. With a breakout, a large area with more gains is getting unlocked and is open for trading.
LDO thus will see bulls going all in this week while the Relative Strength Index (RSI) is nowhere near overheating just yet. This should open an ample amount of room for bulls to at least break above and have a weekly close above the red descending trend line. That positive close above will be enough to see more profits on the horizon.
LDO/USD Weekly chart
Of course, the possible risk to the downside comes with the earlier rejection this week near the red descending trend line. Bears were so keen to get in and did not even wait for bulls to test the upside, which shows how forceful bears are at entering at that level. If that happens, expect to see a leg lower with support at $2.30 for a 10% decline.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ethereum Price Forecast: ETH consolidates below $2,000 as Standard Chartered alters its prediction for 2025
Ethereum remained just below $2,000 in the Asian session on Tuesday as Standard Chartered's Global Head of Digital Assets Research, Geoffrey Kendrick, updated the bank's 2025 price forecast for ETH.
Solana price faces 50-day resistance as SOL futures debut on CME Group with $5M volume on fifth anniversary
Solana (SOL) stagnated around the $128 mark on Monday despite multiple bullish catalysts. The recent SOL unlocks by Alameda Research, ahead of FTX creditor repayments, have created a persistent bearish overhang since early March.
Canary Capital proposes first-ever Sui ETF following S-1 filing with the SEC
SUI saw slight gains on Monday as Canary Capital submitted an S-1 application with the Securities & Exchange Commission (SEC) to launch a Sui exchange-traded fund (ETF). This adds to the growing list of altcoin ETF filings awaiting approvals from the regulator.
Outflows in crypto funds reach $6.4 billion over five weeks amid long-term holder accumulation
Crypto exchange-traded funds (ETFs) extended their outflow streak last week, totaling $1.7 billion, bringing the total outflows in the past 5 weeks to $6.4 billion, per CoinShares weekly report on Monday.
Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.