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Over the past two weeks, the <a href="https://coingape.com/price/lido-dao/" rel="noopener noreferrer nofollow">Lido DAO coin price</a> traded sideways struggling to surpass the $2.175 resistance amid Bitcoin’s post-halving correction. The notable price swings in daily charts extending laterally indicate no clear dominance from buyers or sellers. However, this altcoin sitting at a crucial yearly support indicates the buyers have a better potential to retake trend control and initiate a fresh rally.
Also Read: <a href="https://coingape.com/bitcoin-and-altcoins-come-under-pressure-ahead-of-fed-interest-rate-decision-on-may-1/" rel="noopener noreferrer nofollow">Bitcoin and Altcoins Come Under Pressure Ahead of Fed’s Interest Rate Decision on May 1</a>
<h2 id="b-is-lido-dao-coin-price-ready-to-hit-3-b">Is Lido DAO Coin Price Ready to Hit $3?</h2>
<img decoding="async" src="https://s3.tradingview.com/snapshots/k/kJFWibHU.png" alt="BINANCE:LDOUSDT Chart Image by sahilmahadik07">
Under the influence of a downsloping trendline, the Lido Dao coin has witnessed a steady correction in the last two months. This bearish turnaround plunged the altcoin from $3.64 to its current trading price of $2, accounting for a 43% loss.
<blockquote>
 An analysis of higher time frame charts shows the falling price found suitable support at the ascending support trendline active since June 2024. The dynamic support has been a crucial accumulation point for buyers indicating an established uptrend.
</blockquote>
In a recent update from Santiment, a notable crypto analytics firm, liquid staking assets are reported to have seen a significant uptick over the weekend. Tracking 17 key assets within this sector, Santiment observed a collective market cap increase of +5.0%, signaling a resilient performance despite the broader market’s volatility.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a7.png" alt="💧" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/LiquidStaking?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#LiquidStaking</a> assets have benefited from a nice mini run this weekend. Of the 17 key assets that we track for this sector, the market caps have increased by a combined +5.0% despite choppy market conditions. <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LDO</a> (5.2%) and <a href="https://twitter.com/search?q=%24RETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$RETH</a> (+5.9%) lead the way. <a href="https://t.co/L6siGQre5o" rel="noopener noreferrer nofollow">https://t.co/L6siGQre5o</a> <a href="https://t.co/VJDs7Yzl1t" rel="noopener noreferrer nofollow">pic.twitter.com/VJDs7Yzl1t</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1784676992526451084?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 28, 2024</a>
</blockquote>
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Leading the charge were Lido DAO ($LDO), with a 5.2% rise, and Rocket Pool ETH ($RETH), which saw a 5.9% increase. This mini surge is a bright spot for staking enthusiasts, hinting at growing investor confidence in these assets.
If the demand pressure at the lower trendline is intact, the LDO price could break above $2.175 as an initial sign of reversal. However, the buyers would need to break out from the overhead trendline to build sufficient momentum to lead a rally beyond $3.
<img decoding="async" src="https://s3.tradingview.com/snapshots/1/1faNIH2Y.png" alt="BINANCE:LDOUSDT Chart Image by sahilmahadik07">
Also Read: <a href="https://coingape.com/spot-bitcoin-etf-issuers-eyes-australian-market-after-us-success/" rel="noopener noreferrer nofollow">Spot Bitcoin ETF Coming to Australia’s Stock Market by End of 2024</a>
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2>
<ul>
 <li>BB Indicator: The squeezed range of the Bollinger Band indicator highlights volatility among investors and a lack of directional trends.</li>
 <li>Relative Strength Index: A notable bullish daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">RSI</a> slope above the price indicates the increasing accumulation of the LDO coin at the aforementioned support.</li>
</ul>
The post <a href="https://coingape.com/markets/lido-dao-price-return-to-yearly-support-may-dip-opportunity/" rel="noopener noreferrer nofollow">Lido DAO Coin Price Return to Yearly Support Hints Best Dip Opportunity</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Lido DAO Coin Price Return to Yearly Support Hints Best Dip Opportunity

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