- Lido Dao price pumps over 7% on Friday near the US opening bell.
- LDO is set to flirt with a break above $3 this Friday.
- Expect to see the bulls knock on $3.37 for an upside break this weekend.
Lido Dao (LDO) price was on a tear this morning as bulls came storming out of the gates during the Asia-PAC session. That bullish sentiment could take over during the European session and make LDO a big outlier as it outpaced other major cryptocurrencies and even diverged from equities on the back foot. That results in bulls already holding over 7% gains near the US opening bell, with another 8% to be eked out by bulls toward the closing bell of this work week.
8% rally is expected in Friday’s final hours and 20% over the weekend forLido Dao price
Lido Dao price is making a staggering recovery as bulls seem to be fully resistant to the red hot US PPI numbers that came in on Thursday and triggered a batch of US Dollar strength. With bulls going against the global market move, price action in LDO is back to where it roughly was on Wednesday evening. Bulls are in the driver seat here and have a good chance of making substantial headway.
LDO for this Friday has a take-profit level near $3 at the monthly R1 resistance level. With over a 7% gain from the European trading session, another 8% in the US session would be a very nice performance. Expect the bulls to step even more on the gas pedal on Saturday and Sunday with $3.37 as the pivotal level marked up on the chart, bearing over 28% of gains against where LDO is trading at the time or writing.
LDO/USD daily chart
Seeing that bulls had to let go of the price action on Thursday, another batch of economic data next week could sour the tone. Should more upside numbers confirm higher inflation in the eurozone, that would trigger another short-term flight to safe havens. LDO would tank again and could free fall even towards $2, depending on the severity of the data at hand.
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