LDO: Resistance Breakout
Trade setup: Price has regained the $1.60 key level, which has held up several times this year and could signal beginning of a bullish trend reversal with near-term upside to $2.00. Momentum turned bullish again (MACD crossover and RSI crossed above 50 centerline). Lido (LDO) is the largest DeFi platform and a leading ETH liquid staking platform.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $1.20. The nearest Resistance Zone is $1.60, which it broke, then $2.00, and $2.50.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $1.20. The nearest Resistance Zone is $1.60, which it broke, then $2.00, and $2.50.
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