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Demand for Lido DAO (LDO) is increasing: Has the ATH run begun?
Lido DAO (LDO), which stands out with the developments regarding Ethereum (ETH) spot ETFs, attracted attention with its bullish movement.
The topic of ETH spot ETFs, which the crypto community has been focused on since the approval of BTC spot ETFs, has made Lido DAO (LDO) shine. The LDO, which has been quiet for a long time, has finally stepped on the gas and started to live up to expectations. How are things going on the technical side for the popular coin, which has risen by 8.07% in the last 24 hours to the fourth place on the "Most Very Rising" list?
With the decline in BTC, the LDO, which naturally retreated to the support level, then exhibited an effective price movement. The LDO, which managed to climb from $2.60 to $3.05, is trading at $3.022 at the time of writing. If the developments on the ETH side, especially the spot ETF issue, continue positively, we may see voluminous price moves in LDO. In such a scenario, $3,323 – $3,614 and $4,032 should be followed as resistance levels, respectively.
Factors such as the continuation of the downtrend in the ETH/BTC pair or the daily close of the BTC below $39,500 will strengthen the hand of sellers in the pair. In such a scenario, drops to $2,821 – $2,636 and $2,418, respectively, could occur. A loss of $2,418 could trigger a new wave of selling.