- LDO is priced at $0.842, down 4.0% in the last 24 hours, holding just above the $0.8319 support zone.
- A breakout above $0.8903 could initiate a move toward $1.20, as observed in current channel structure.
- The chart reflects increased buying near mid-channel levels with resistance forming near late May consolidation highs.
The current price of Lido DAO (LDO) is $0.842, and the cryptocurrency shows a decline in value by 4.0% over the past 24 hours. The token is trading above a significant support level of $0.8319, although the fall is significant. Notably, the recent upswing saw LDO testing a resistance level at $0.8903, which is the midpoint of a larger channel pattern as seen on the daily chart.
This zone has also served as a concentration zone in late May and early June, and this provides an underpinning to the current resistance. Recent performance at above sub-$0.75 levels is positively trending with the lows being high, indicating buying pressure. Consequently, LDO has reached the upper limit of its short-term trading range.
Channel Structure Highlights $1.20 Upside Upon Breakout
Technical readings from the daily chart suggest a defined channel, with LDO fluctuating between the $0.64 and $1.25 range. The price action currently sits just beneath the mid-level, which now acts as resistance at $0.8903.
If LDO secures a daily close above this level, analysts anticipate a possible move toward the $1.20 region. This target corresponds with the upper boundary of the channel and reflects price behavior last seen in mid-May. However, the price must first hold above current support and overcome immediate resistance to confirm continuation.
Short-Term Levels Define Market Reaction Zone
LDO’s 24-hour range sits between $0.8352 and $0.8922, showing narrow but reactive intraday movement. With BTC and ETH pairings stable, near-term focus remains on horizontal resistance zones.
The 0.057211 BTC and 0.0002830 ETH exchange rates highlight continued capital stability despite the dollar pullback. If price holds above $0.8319, continuation above $0.8903 could trigger the next technical leg toward $1.20.
LDO has yet to officially break out of its current range, but the next important price level is at $1.20. Support around $0.8319 and close above $0.8903 are important to ensure that bulls continue to extend the move.