Lido DAO (LDO) Price Surges Ahead of Upcoming Beacon Chain Upgrade

The recent surge in Lido DAO price has captured significant market attention, but with momentum now cooling, the question is whether bulls can sustain the breakout

The recent surge in Lido DAO (CRYPTO: LDO) price has seen impressive gains, but with momentum now cooling, will bulls sustain the breakout or is a short-term pullback on the cards?

What Happened: As of June 11, the Lido DAO price today trades at $0.958, down slightly from an intraday high of $0.999. This marks a mild rejection from the psychological $1.00 mark.

LDO began June with some consolidation, but the breakout above $0.88 on June 9 saw a nearly 20% move in less than 48 hours. This coincided with a bullish break of a descending wedge pattern, visible on both the 4-hour and daily charts.

However, price is struggling to hold above the 0.5 Fibonacci retracement level at $0.961 from the April high to May low. This may be a sign of near-term exhaustion, as some indicators are also becoming overbought.

30-Minute Chart Shows ST Countertops: Both the 30-minute and 4-hour charts show signs of a top forming after the recent Lido DAO price spikes. From the 30-minute time frame, price has pulled back slightly from $0.999, and we could be forming a short-term double top pattern.

The structure remains bullish above $0.88, but the descending resistance from the $1.00 rejection is now keeping a lid on upside momentum.

4-Hour Chart Shows Key Levels: The 4-hour Bollinger Bands expanded heavily during the breakout, with the upper band now at $1.00 and the middle band at $0.91. Price is still above the 20/50/100 EMAs, which have realigned bullishly between $0.88 and $0.91.

If the $0.95 support fails, then the next key zone to watch will be around the 0.382 Fib at $0.91.

Relative Strength Index Shows Fading Momentum: Momentum readings are now showing some divergence across time frames, which may indicate more volatility in the Lido DAO price action.

On the 30-minute chart, the RSI is pulling back from overbought levels and trades at 44, with a bearish crossover of the midline and the MACD also flipping negative, showing a loss of bullish momentum.

The Stochastic RSI on the same time frame is becoming oversold again at the 0 level, which could suggest an upcoming bounce, but this will depend on the broader market sentiment. The Chande Momentum Oscillator is also showing a strong drop to -60.47, confirming the weakness in the current trend velocity.

On the 4-hour Ichimoku chart, price is still above the cloud and the Tenkan-Sen and Kijun-Sen lines, which shows that despite the cooling momentum, the overall structure is still intact. A bounce off the Kijun-Sen at around $0.93 may be a key level to watch as we approach June 12.

Key Resistance And Support Zones: LDO is currently trading in a key range between $0.95 and $1.00. A strong breakout above $0.999 would open the way to the 0.618 Fibonacci level at $1.012, followed by $1.064 and $1.177.

However, a failure to hold $0.95 may see a retest of $0.91, and a deeper breakdown could expose the $0.88-$0.86 zone where the 50 and 100 EMAs converge.

The daily Fibonacci levels from the April drop are also important to consider:

Any recovery of $1.012 would be a strong bullish move and would shift the focus to higher retracement zones.

Why Is The Lido DAO Price Going Down Today: The Lido DAO price today is down as the token faces profit-taking pressure and technical resistance at the $1.00 level.

LDO experienced a rapid surge, gaining nearly 20% in less than 48 hours, which could be leading to some profit-taking activity, especially from shorter-term traders who entered during the breakout.

The stall at the $1.00 psychological barrier also aligns with the 0.5 Fibonacci retracement from the April high to May low, adding a technical aspect to the price action.

The 30-minute chart shows the RSI pulling back from overbought levels and the MACD flipping negative, indicating ebbing bullish momentum.

Lido Short-Term Price Prediction: The information presented in this article is for informational and educational purposes only, and it should not be interpreted as financial advice, an invitation to purchase