The price of LDO is approaching a crucial resistance level as traders and analysts monitor its next move. Crypto expert Cold Blooded Shiller has drawn attention to the importance of today’s daily close for LDO. He states, “Close above this sticky level, and $3 comes quickly imo,” signaling a potential breakout opportunity.
What you'll learn 👉
LDO Price Action and Resistance Levels
The LDO price has been steadily climbing since late 2023, with each peak and dip higher than the last. After this strong run-up, the price hit a ceiling around $2.20 and started moving sideways as buyers tried multiple times to push through this level. This resistance has proven challenging for buyers, with multiple rejections in recent trading sessions.
Below the resistance, a shaded green area marks a key support zone between $1.60 and $1.80. This zone has served as a strong foundation for price rebounds, indicating robust demand at these levels. Market participants are keenly observing whether the LDO price can close above $2.20, which could trigger a breakout toward the $3 target mentioned in the tweet.
Potential Breakout Scenario For Lido DAO Price
A daily close above the $2.20 resistance could pave the way for a rally, with the next target at $3. The technical setup suggests minimal resistance between $2.20 and $3, creating an opportunity for significant upward momentum. Higher lows in the support zone also indicate increased buying interest, strengthening the bullish outlook.
On the other hand, failure to breach the $2.20 level could lead to further consolidation or a pullback toward the $1.60–$1.80 support range. Traders are watching for signs of compression, as reduced volatility often precedes a strong directional move.
Market Sentiment and Chart Analysis
Cold Blooded Shiller’s tweet has sparked interest in LDO’s price movements, emphasizing the significance of today’s close. The chart’s structure aligns with this sentiment, showing repeated tests of the resistance and potential for a breakout. A move above $2.20 would likely attract momentum traders and signal increased bullish activity.
The coming sessions will be critical in determining whether LDO can achieve a breakout or remain within its current consolidation range. The market awaits further developments as the token hovers near this pivotal level.
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