LDO Price Analysis and Forecast: Has Groomed a Beautiful Chart; Learn How

The Lido DAO (LDO) buyers have exhausted since the beginning of 2024, and sellers dominated the trend. Buyers tried their best to defend the $1.50

The Lido DAO (LDO) crypto price has the potential to move upward, a crypto influencer has suggested. Defending the major support level could lead to a bullish move.

Ghost (@TheGhostBTC) has tweeted that the Lido DAO crypto price has the potential to move upward, suggesting that a defending major support level could lead to a bullish move till the $1.50 mark.

“Another interesting chart. Keep the support and I think 1.5 level should come. Didn't have a test after the breakdown and a big fvg is there. Another FVG at 2.2$ zone but that's another story. If there is a pullback, I could enter a trade. Will monitor it.”

Ghost also mentioned another interesting detail on the LDO crypto chart, highlighting two good levels for another bullish move. If there is a pullback, Ghost could enter a trade, and they will monitor it.

LDO Price Could Erupt Soon Even Though It Looks Bearish Now

Ghost's analysis suggests that the LDO crypto price is displaying a bullish potential despite the recent bearish trend. According to Ghost's observation on a daily time frame, the LDO price has formed a falling wedge pattern and witnessed a breakout.

During the breakout, the price exceeded the 20-day exponential moving average (EMA) and was eyeing for the 200-day EMA. Also, the price encountered resistance from a declining trendline, which triggered the breakout.

COINBASE: LDO/USD 1-D Chart By TradingView

On the technical chart, buyers overcame the $1.50 demand zone, and technical indicators supported them. Once the price manages to sustain over the 20-day EMA, it could be a bullish signal.

If the LDO price smashes the crucial territory of $1.50, investors could show interest. The involvement of investors might help to flip the trend to bullish, and the price may extend to the $2 mark.

On the other hand, if the crypto asset price starts trading below the $1 mark, it could be a bearish signal. The price below this level could invite sellers, who may drag it to a new all-time low (ATL) level.

The RSI has witnessed a bullish divergence and wandering over the RSI-based moving average. The MACD has triggered a bullish divergence and the histograms were green.