Lido DAO

Rise

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Lido DAO was struggling at the lows to find a firm footing. LDO experienced a sharp crash in the 1st week of August, dropping over 38% through the week. The price slumped to multi-month lows, highlighting strong bearish control.&nbsp; 
At press time, Lido DAO exchanged hands for close to $1.09, recording a positive intraday development of 2.44%. Despite the efforts to find stability near the demand, the loss in the active addresses curve highlighted waning interest. 
Lido DAO provides staking to a wider range of users by pooling stacked ETH from multiple users. It is a decentralized autonomous organization (DAO). With a live market capitalization of $986.388 Million, it ranks 64th in the crypto space. 
<h2 class="wp-block-heading" id="h-user-engagement-on-the-decline">User Engagement on the Decline</h2> 
Lido DAO has been trying to sustain above the demand zone and psychological level of $1. Despite this, there has been a steep decline in the number of active addresses. This indicated the investors’ waning interest. <iframe loading="lazy" title="Santiment Chart: Price (LDO), Active Addresses 7d (LDO), Active Addresses 24h (LDO)" width="800" height="425" src="https://embed.santiment.net/chart?ps=lido-dao&amp;pt=LDO&amp;df=2024-02-18T18%3A29%3A59.311Z&amp;dt=2024-08-18T18%3A29%3A59.311Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bactive_addresses_7d%3Bactive_addresses_24h&amp;wax=0&amp;wc=%2326C953%3B%23FFCB47%3B%23FF5B5B&amp;ws=%7B%22node%22%3A%22area%22%7D%3B%3B" scrolling="no"></iframe> 
As per the data obtained from Santiment, the 24-hour and the 7-day active addresses curves seemed to be headed downward. The decline in the active addresses highlighted the investors’ confidence loss. 
The active addresses reveal the total number of unique users participating in a transaction in a given period. An increased active address indicates an increase in demand. 
Moreover, the transaction volume has dropped by 7.89% a day to $53.23 Million. This highlighted a drop in demand despite the intraday price rise. The volume to market cap ratio at 5.3% suggests low volatility.&nbsp; 
<h2 class="wp-block-heading" id="h-is-lido-dao-a-sell-on-rise-for-next-week">Is Lido DAO A Sell On Rise For Next Week?</h2> 
The <a href="https://www.thecoinrepublic.com/price-prediction/lido-dao/">Lido DAO price </a>seemed to struggle for a firm establishment near the $1 psychological level. 
The drop in the transaction volume and active addresses highlighted the waning interest of the investors in the short term. It may again allow bearish forces to act at higher levels.&nbsp;  
<a href="https://in.tradingview.com/chart/LDOUSD/38Y0x3bD-Lido-DAO-Faces-Investor-Apathy-Will-the-Downtrend-Persist/">&nbsp; </a> <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a>&nbsp; <a href="https://in.tradingview.com/"> </a>  
On the higher side, the $1.2 level may act as an immediate resistance and try to halt LDO’s momentum. The price hovered below all the key exponential moving averages, indicating short-term and long-term bearishness. 
On the lower side, the breakdown of the $1 level could further fuel a bearish trend continuation towards the $0.8 level.&nbsp; 
However, until the $1 is defended, the bulls may attempt to turn the tables in their favor. The technical indicators leave a bearish note on a combined analysis.&nbsp; 
LDO has been struggling, experiencing a sharp 38% drop in early August. At press time, it was trading at around $1.09 with a slight intraday gain. The price faced challenges due to declining active addresses. This indicated waning investor interest.&nbsp; 
Despite attempts to stabilize above the $1 psychological level, bearish forces seemed to dominate. Moreover, the $1.2 level acts as immediate resistance, while a breakdown below $1 could push the price towards $0.8.&nbsp; 
Technical indicators suggested a bearish outlook in the short and long terms. This was accompanied by declining transaction volumes and active addresses, highlighting investor uncertainty. 
The post <a href="https://www.thecoinrepublic.com/2024/08/19/lido-dao-faces-investor-apathy-will-the-downtrend-persist/">Lido DAO Faces Investor Apathy: Will The Downtrend Persist</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Lido DAO Faces Investor Apathy: Will The Downtrend Persist

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