LDO Price Analysis: Token Prices Gets Ready for a Big Move

Trending 1 week ago

LDO Price Analysis

  • LDO token value has shown a beardown consolidation astatine nan request area aft showing a beardown breakout connected nan play clip frame.
  • The LDO token value is forming a symmetrical triangle shape connected a regular clip frame.
  • The brace of LDO/BTC is trading astatine nan value level of $0.0000981 pinch an summation of $1.985 successful nan past 24 hours.

LDO token value is giving unclear signals arsenic it trades supra nan request zone. It has fixed a beardown breakout of nan proviso area but has grounded to return disconnected aft nan breakout. As of now LDO token value is trading astatine nan value level of $2.681.

LDO Token Price Forms Continuation Pattern

Source: LDO/USDT by tradingview

LDO token price, arsenic per nan value action, is forming a symmetrical triangle pattern. The token value is forming lower-low statement from nan proviso area and higher-high statement further from nan request zone. At present, nan token is trading successful a constrictive scope and truthful breakout connected either broadside will trigger large moves. 

The token value tin scope nan $6.00 semipermanent proviso area if it breaks retired of nan mini consolidation scope connected a regular clip frame. On a larger clip frame, nan token value fell heavy and is making a little debased formation. To contradict nan continuation of nan bearish inclination connected a higher clip frame, nan token value needs to break retired of nan symmetrical triangle shape connected nan upside. LDO token value is trading successful nan mediate of nan Bollinger set indicator, aft bouncing disconnected nan request zone. 

LDO token value is trading beneath each nan important moving averages. The 50- and 100-day MAs tin enactment arsenic a beardown proviso area successful early arsenic nan token value tries to move up. Although nan token value has fixed a breakout of 14 SMA, a breakout from nan symmetrical triangle is basal for a move up. Volumes person been connected nan emergence arsenic nan token hovers astir nan proviso zone.

The LDO Token Price is Forming a Symmetrical Triangle Pattern connected nan Daily Time Frame

Source: LDO/USDT by tradingview

RSI curve is trading astatine 49.52 arsenic nan token nears nan request area. At present, nan RSI curve has crossed nan 20 SMA. The token is forming higher debased and higher precocious statement connected a 4-hour clip framework arsenic nan token shows bullishness successful nan higher clip frame. LDO token value tin beryllium seen moving up erstwhile it breaks retired of nan symmetrical triangle shape and nan RSI curve besides moves higher. 

The MACD parameter has fixed a antagonistic crossover arsenic nan token value fell from an important proviso zone. The bluish statement crossed nan orangish statement connected nan downside. This has resulted successful nan token value moving down powerfully successful a 4-hour clip frame. Recently, nan LDO token value roseate aft nan breakout of mini support, arsenic a result, nan MACD parameter besides depicted nan same. Once nan token value starts moving up again aft breaking a mini range, nan spread betwixt nan bluish and orangish lines tin beryllium seen widening supporting nan trend.

Conclusion: LDO token value is trading successful a beardown bearish inclination arsenic seen connected nan 4-hour clip frame. While connected nan regular clip framework nan token value has been consolidating adjacent nan request zone. The token value is forming a symmetrical triangle shape connected a regular clip frame. Investors should hold for a breakout from a symmetrical triangle to see actions.

Support: $2.01 and $1.9

Resistance: $2.8 and $3.2


The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial los

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Andrew is simply a blockchain developer who developed his liking successful cryptocurrencies while his post-graduation. He is simply a keen perceiver of specifications and shares his passion for penning on pinch being a developer. His backend knowledge astir blockchain helps him springiness a unsocial position to his writing

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