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The Lido DAO price has jumped by 17% in the last seven days as the token traded at $3.2 as of 8:25 a.m. EST.
Ali, addressing his 39.5K X (Twitter) followers, states that Lido DAO could be shaping up an ascending triangle on its weekly chart.
He believes a break above the $3.30 level could trigger a bullish breakout, potentially propelling $LDO toward a new all-time high of $6.
#LidoDAO is shaping up an ascending triangle on its weekly chart.
Keep a close eye on the $3.30 level! A sustained weekly close above this mark could be the trigger for a bullish breakout, potentially propelling $LDO toward a new all-time high of $6. pic.twitter.com/1JTkOnYbPt
— Ali (@ali_charts) January 3, 2024
Lido DAO Price Prediction
An analysis of 2-hour LDO/USD charts shows that the Lido DAO price could be gearing up for a bullish breakout. This is pointed out by the Relative Strength Index indicator which is now headed north having crossed above 50, showing mounting buying pressure.
The MACD indicator is also reverting towards the green zone, showing building bull pressure on the token.
The Lido DAO price is moving within a range, leaving open the prospects of a break out on either side. Should bulls break past the $3.3 resistance level, a bullish break out on the Lido DAO price will be imminent.
The 50-period moving average has also exceeded the 200-period moving average, backing the bullish prospects for the token. Volatility levels on LDO are high as seen from the Bollinger Bands, which are currently moving far apart.
However, these levels are likely to drop in the short term as a result of decreasing trading activities that have seen the token’s trading volume drop by 26% in the last 24 hours.
2-hour LDO/USD charts | Source: TradingView
Meanwhile, as the Lido DAO price pumps, Sponge V2 is emerging as another great investment option for investors hunting down presales with explosive potential in 2024.
Lido DAO Price Prediction: Is SPONGEV2 a Good Pick?
Sponge V2, an enhanced iteration of Sponge V1, stands poised to take the market by storm again, as its predecessor, Sponge V1, did last year. V1 did a staggering 100x surge in 2023.
Noteworthy Endorsements
Justin Sun, the creator of Tron and an adviser to Huobi Global, is a supporter of the upcoming Sponge V2. The wallet ‘Justin Sun 4,’ as observed on Etherscan, boasts a substantial holding of 108 million SPONGE V1, valued at an impressive $43,246.
Justin Sun holds this #memecoin :O I won’t even say anymore… this could destroy #SNEK and #PEPE..! Who remembers #SPONGE?!! 🫢🔥$SPONGE V2 is making loud movements in the market, even #Trons very own Justin Sun is holding $50k worth of SPONGE! 😮 💎💎
DYOR -… pic.twitter.com/ULzSDJdYnS
— Jacob Crypto Bury (@BuryCrypto) January 4, 2024
For investors intrigued by the stake-to-bridge initiative associated with Sponge V2, immediate action is recommended. Engaging in the staking of Sponge V1 presents a straightforward process, with a token price of $0.000580. Given that these tokens are exclusively accessible through Stake-To-Bridge, acquiring Sponge V2 necessitates the purchase and staking of V1 tokens.
📣 We’re excited to announce that #Sponge is bridging from V1 to V2!
Stake your $SPONGE to earn #SpongeV2 tokens. 🧽💦
Buy and stake now for a special V2 token bonus! Don’t miss out 🔥#MemeCoin #Web3 #BullMarket pic.twitter.com/bYmkg1TNrU
— $SPONGE (@spongeoneth) December 18, 2023
Those who missed out on Sponge V1 last year have a second chance with SPONGEV2.
Get your SPONGEV2 tokens here.
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