Lido DAO (LDO) Open Interest Soars by 30%, Bullish Sign?
In the recovery of the cryptocurrency market, Lido DAO (LDO) watched the bullish price operation attracted the attention of traders. In recent weeks, LDO has been struggling within the difficult range of $ 1.50 to $ 2.00. However, with the current price recovery, it seems to be out of the area.
LiDO DAO (LDO) technical analysis
According to expert technical analysis, LDO has been traded within the narrow range since late December 2024, and the level of $ 2 has strong resistance. During this period, LDO encountered many resistance, resulting in a decline in price.
However, the current market emotions are shifting, which may trigger the rise in prices and break through this resistance level.
LDO price forecast
According to the recent price actions and historical motivation, only when the asset closes the 2.15 level of the daily candle above $ 2.15, this breakthrough can be considered to be successful, otherwise, this will be false. If this happens, it is very likely LDO token In the future, it can soar 55 % to reach a level of $ 3.37.
However, the transaction of the asset on the daily schedule is higher than the 200 index moving average (EMA), which indicates that LDO is on the upward trend. From a positive point of view, the relative intensity index (RSI) of assets is currently lower than level 55, which indicates that Altcoin still has enough space to increase significantly in the next few days.
Raising chain industry indicators
After the breakthrough, watching this bullish prospect, traders show strong interest in assets, as chain analysis companies revealed that the company revealed Small shopEssence Data show that in the past 24 hours, LDO’s open interest (OI) has soared by 32 % in the past four hours, and 20 % has soared, indicating that new positions in traders have increased during the day.
However, the long/short ratio of LDO shows that traders on the market have strong bets on the long -term long side because the current bet is 1.14. When pressing, more than 53.50 % of traders served as long positions, while 46.50 % of traders served as short positions, which benefited the ratio of bulls.
Current price motivation
The current transaction price of LDO is close to $ 2.13, and has experienced more than 16 % of the price increase in the past 24 hours. During the same period, its transaction volume increased by 60 %, indicating that the participation of traders and investors after breakthroughs increased.
