Lido DAO Price Surges Again Over the Past 24 Hours


Altcoin News

Lido DAO’s price has surged over the past 24 hours.
CoinMarketCap shows that LDO’s price is up 44.49% at the time of writing.
LDO’s price rammed through resistance to flip it into support.

Lido DAO (LDO) experienced a surge in price over the past 24 hours as the rest of the crypto market jumped during this period.

According to the crypto market tracking website, CoinMarketCap, the price of LDO has surged 44.49% within the last 24 hours to take its price up to $2.12. Furthermore, LDO’s price has posted a high of $2.14 and a low of $1.48 over the last day.

Regarding the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), LDO’s price has strengthened against both by 31.78% and 26.84%, respectively, as one LDO is worth approximately 0.00009175 BTC and around 0.001294 ETH at the time of writing.

LDO’s 24-hour trading volume has also surged by 343.92%, taking the total daily volume to $207,236,058 at the time of writing.

4-hour chart for LDO/USDT (Source: CoinMarketCap)

LDO’s price made a confident break above the resistance level at $1.916 on the 4-hour chart to rise to its current level. The move started after the 50 EMA failed to cross above the 20 EMA, as the price of LDO rose above the two lines to give off an early indication of the move.

The break above the two EMAs was followed by a parabolic move upwards with multiple green 4-hour candles.

The MACD line has echoed the steep incline seen in LDO’s price as the MACD histogram has picked up significantly over the past day. Furthermore, the MACD line is positioned above the MACD signal line.

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