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The post <a href="https://coinpedia.org/price-analysis/lido-dao-price-jumps-over-11-is-the-ldo-token-a-good-investment-for-2024/" rel="noopener noreferrer nofollow">Lido Dao Price Jumps Over 11%! Is The LDO Token A Good Investment For 2024?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Top cryptocurrencies have displayed a positive start to the year as the industry has witnessed a jump of over 5% in its valuation within the past 24 hours. Further, the LDO price has jumped over 11%, making it one of the top gainers in the crypto space for the past day.
The <a href="https://coinpedia.org/price-prediction/lido-dao-ldo-price-prediction/" rel="noopener noreferrer nofollow">Lido Dao price</a> traded in a closed range between $2.151 and $2.468 for a brief period, following which the market lost momentum, resulting in the price breaking down its support level.
However, the bulls held the price above the support level of $1.974, after which the price traded sideways for a while. After multiple attempts, the bulls regained momentum and jumped approximately 15% in value.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/aX59QmjJdgSz3LJMucKCtWdMmJnup1VcdL9nI0CL4fU98VIRacGYy7eFePIUXplXoh8Iv1cb1vprtQMg8UiWqoR6vk7ft8YRNx2hLv-T-UdAFWXXsc7I4FX82N13f6Wa8efiDeJIhT6O_5HcVa9NR4g" alt="Lido Dao Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: LDO/USDT
 </figcaption>
</figure>
Following this, the LDO coin price recorded significant price volatility, but the rally was short-lived as the LDO token faced rejection at $2.953. Since then, the price constantly traded in a consolidated range between $2.640 and $2.971.
Recently, the price managed to break out of the range but the bulls lost momentum at the resistance level of $3.159, after which the price faced a pullback within the range.
The technical indicator, MACD, displays a decline in the histogram, indicating an increase in the selling pressure in the market. Further, the averages show a bearish curve, highlighting a high possibility of a trend reversal soon.
<h2 class="wp-block-heading" id="h-will-ldo-coin-price-regain-value">Will LDO Coin Price Regain Value?</h2>
If the bulls hold the price above the support level of $2.971, the LDO price will regain momentum and prepare to test its resistance level of $3.159 during this week.
Moreover, if the market holds the price at that level, the Lido Dao token will attempt to test its upper resistance level of $3.5 in the coming time.
Negatively, if the bears overpowered the bulls, the price would lose momentum and fall to test its support level of $2.825 soon. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $2.640 in the coming time.

Lido Dao Price Jumps Over 11%! Is The LDO Token A Good Investment For 2024?

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