Lido DAO works as a liquid staking solution for Ethereum where users can stake LDO without any restriction of minimum deposits or infrastructure maintenance. LDO is the native token for Lido, used for granting governance rights, paying fees and rewards, etc.
The staking app of Lido appeared in the investment world on 19 December 2020 with 1 billion LDO tokens at genesis. The founding member of this platform holds 64% of LDO tokens, locked for 1 year.
Lido DAO includes several prominent partners and investors, such as Libertus Capital, Terra, Staking Facilities, Semantic VC, P2P Capital, Chorus, and KR1. Moreover, several angel investors like Banteng of Yearn, Stani Kulechov of Aave, and Kain Warwick of Synthetix are also in this project.
There are a total of 1,000,000,000 LDO tokens in supply from them; 31% or 312,951,153.96 LDO are already in circulation with a market cap of $940,061,814. In the last 24 hours, this token showed a 15% price surge compared to Bitcoin’s 11.55%.
Let’s see the future Lido DAO Forecast from the Lido DAO (LDO) Price Prediction:
Lido DAO (LDO) Shows An U-Shape Recovery
Since the Binance Launch, LDO/USDT shows an intense selling pressure where the price dropped from 3.89 to 0.44 with a 90% discount from where the recent buying pressure appeared.
In LDOUSD daily chart, the buying pressure from the 0.618 level came with massive volume support, pushing the price higher with an impulsive bullish pressure. As a result, the buying pressure from the 0.618 level is clearly solid and stable, which may extend higher from near-term discounted prices.
The 20-day EMA is below the price showing a solid buying pressure where the current support level is at 2.10 level. In the indicator window, the Relative Strength Index (RSI) shot higher above the 50% level and hovered at the 70% overbought zone, indicating a bullish breakout.
Based on the daily LDO coin price prediction, the buying momentum in this pair is solid, which may extend higher beyond the 4.00 near-term psychological level in the coming days. In that case, any buying opportunity from the near-term 2.80, 2.10, or 1.92 level would be a potential investment opportunity for this token. On the other hand, breaking below the 1.80 level with a bearish daily close could alter the current market structure and lower the price in the coming days.
LDOUSD Ichimoku Cloud Analysis
Based on the Ichimoku structure, the LDO price is trading in an uptrend on the intraday H4 timeframe.
As per the Kumo Cloud structure, the future cloud is clearly bullish where both Senkou Span A and B are aiming higher, indicating short-term and medium-term traders' activity on the buying side. In the present Kumo Cloud, the price made a bullish breakout with impulsive pressure and made a stable position above the Cloud support. In that case, the stable price can hint at more upside possibilities after a minor bearish correction.
In the near-term dynamic levels, it is clearly visible that the Tenkan Sen is above the Kijun Sen, which means short-term traders are active in the market and interested in taking the price higher. Moreover, the Kijun Sen is approaching higher, indicating an immediate support level from where further buying pressure may appear.
Based on the H4 Lido DAO Price Prediction, the gap between Kijun Sen and price has extended, which can cause a minor bearish correction. Therefore, any bullish rejection from the 2.50 to 2.20 zone would be a solid bullish opportunity to extend the price towards the 4.00 level.
LDOUSD Intraday Price Action Analysis
The visible range volume indicator, a unique tool to show the highest volume level from the range, shows extreme buying pressure in the intraday chart from the 2.60 level. Therefore, the buying pressure may extend if bulls hold it above the 2.60 level in the H4 chart.
Based on dynamic price levels, the current price is supported by the volume weighted average price (VWAP) and 20 EMA that are working as immediate support levels. MACD Histogram is above the zero line on the indicator window, while MACD EMA’s are moving up.
Therefore, the intraday price action is positive for buyers where any buying pressure from dynamic 20 EMA could open another buying opportunity towards the target of the 4.00 level. On the other hand, bearish pressure below the 2.00 level could hint at sellers' presence in the market.
Is Lido DAO (LDO) A Buy?
According to the LDO Forecast, the buying pressure in LDO/USD is potent. Therefore, any strong bullish rejection from 20 EMA or weekly VWAP from the H4 chart could provide a potential long opportunity.