Lido DAO’s local tokene LDO has experienced a 68 percent significant increase in the price in the last week. In this increase, the expectations of the first Lido Dao Tokenholder Update to be held on Thursday play an important role. After the latest developments, the possibility of an increase in the LDO price more in the short term is discussed.
Rise in Lido Dao
The rise in the LDO price is supported by the increase in new addresses participating in the market. In the last week, the number of new addresses increased by 292 percent and rose from 109 to 428. This was recorded as the highest level of the last five months. Investors have positive expectations for the future of LDO.
Many new investors are taking positions in order to benefit from possible developments in the Token update. Following this development, opinions are expressed that LDO will continue its mobility in the coming period.
The NUPL (Net Unrealized Profit/Loss) Metric, which is frequently used in the analyzes, shows that a critical threshold is approached for LDO. When Nupl reached zero in the past, price movements usually experience a return point. This indicates that the current rise trend may soon encounter a correction.
Investors should be cautious because the NUPL indicator crosses the neutral region and indicates that investors may be prone to realize their profits. Such a development may bring the risk of decreasing price in the short term. Experts emphasize that investors should carefully monitor this data.
The price of the LDO increased to $ 1.53 with the last rise and started to be traded just below the resistance point of $ 1.56. The upcoming token owner update has provided optimistic air in the market. But LDO’s ability to rise above these levels is critical for the continuation of the acceleration.
Resistance points and possibilities of withdrawal
According to experts, if the LDO exceeds $ 1.56, the next target stands out for $ 1.82. Recently seen new address increase and update excitement can contribute to the progression of the price up to $ 2.00, the psychological limit. However, the risk of investors to sell to profit may cause the summit to remain smaller.
Ethereum $4,676.06 Fed by the rise of the SEC and the liquid confirmation of the SEC, the LDO Coin still has a serious potential.
If investors prefer to convert the final increase in cash, the price of LDO may decrease below $ 1.34. In such a case, the price can be reduced to $ 1.18 dollars can be experienced in a withdrawal can be experienced. In this scenario, the current ascension tendency is expected to be invalid.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
