Lido DAO Price Set for 30% Increase Amid Growing User Interest
Lido DAO Price Set for 30% Increase Amid Growing User Interest
An on-chain metrics 24H Active addresses have recorded a 30% rise indicating increased user engagement.
LDO price DAA divergence indicators highlight a positive divergence suggesting a bullish continuation.
Lido DAO price gained traction after stabilizing near the demand zone of $1.5 and surged higher. The LDO token price has been on a five day gaining streak erasing nearly 20% of recent losses.
Despite rising over 20% in the recent session, the long term trend outlook emphasizes being in a correction phase. It adds the risk of price failure at the higher levels. However, few on-chain metrics have signaled a positive development which may derive growth in Lido DAO and may break out of a correction phase.
Lido DAO is a decentralized autonomous organization (DAO) offering staking infrastructure across various blockchain networks. The platform is particularly known for its liquid staking solution for Ethereum.
Users can stake their ETH and receive stETH (Lido staked ETH) tokens in return, which represent their staked ETH and accumulated staking rewards. It has a live market capitalization of $1.75 Billion and ranks 52nd in the cryptoverse.
LDO: 24H Active Addresses On A Rise
Along with a rise in LDO price in the recent sessions, there has been an exponential growth in 24 Hour active addresses. There has been a near 30% jump in the 24 hour active addresses in the recent sessions as per the data obtained from app.santiement.net, an on-chain analytics website.
On a deeper dice, it was observed that the 24 hour active addresses were close to 300 a few days ago which has surged to nearly 380 as of now, suggesting a rise of over 30%. Active addresses represent the number of unique users which have taken part in any transaction in a given period of time.
Additionally, an increased number of active addresses indicate a high user engagement which generally heightens the demand. The volume to market capitalization at 12.46% indicates high volatility.
LDO Price DAA Divergence Analysis
furthermore, price DAA divergence is another on-chain metrics which highlights the further growth in Lido DAO price. This metric measures any positive or negative divergence between LDO price and Daily active addresses.
A positive divergence highlights a growth potential in the price and vice versa. The weekly price vs DAA metrics highlights a positive divergence suggesting a potential growth in LDO price.
Apart from it, other technical indicators i.e. RSI placed at 55.86 points suggests a bullish continuation in the short term. The short term Exponential moving averages 20 and 50 day suggest a bullish continuation whereas, 200 day EMA highlights a bearish trend prevailing.
Can Lido DAO Make A Bullish Reversal?
Lido DAO's token price surged, erasing nearly 20% of recent losses over a five-day gaining streak. Despite this rise, the long-term trend remains in a correction phase, posing risks at higher levels. However, positive on-chain metrics, such as a 30% increase in 24-hour active addresses and price DAA divergence, suggest potential growth.
Additionally, The RSI at 55.86 points indicates short-term bullish continuation. While the 20 and 50-day EMAs suggest a bullish trend, the 200-day EMA highlights a prevailing bearish trend. Key levels to watch are $2.5 for a bullish breakout and $1.5 for potential bearish continuation.
An on-chain metrics 24H Active addresses have recorded a 30% rise indicating increased user engagement.
LDO price DAA divergence indicators highlight a positive divergence suggesting a bullish continuation.
Lido DAO price gained traction after stabilizing near the demand zone of $1.5 and surged higher. The LDO token price has been on a five day gaining streak erasing nearly 20% of recent losses.
Despite rising over 20% in the recent session, the long term trend outlook emphasizes being in a correction phase. It adds the risk of price failure at the higher levels. However, few on-chain metrics have signaled a positive development which may derive growth in Lido DAO and may break out of a correction phase.
Lido DAO is a decentralized autonomous organization (DAO) offering staking infrastructure across various blockchain networks. The platform is particularly known for its liquid staking solution for Ethereum.
Users can stake their ETH and receive stETH (Lido staked ETH) tokens in return, which represent their staked ETH and accumulated staking rewards. It has a live market capitalization of $1.75 Billion and ranks 52nd in the cryptoverse.
LDO: 24H Active Addresses On A Rise
Along with a rise in LDO price in the recent sessions, there has been an exponential growth in 24 Hour active addresses. There has been a near 30% jump in the 24 hour active addresses in the recent sessions as per the data obtained from app.santiement.net, an on-chain analytics website.
On a deeper dice, it was observed that the 24 hour active addresses were close to 300 a few days ago which has surged to nearly 380 as of now, suggesting a rise of over 30%. Active addresses represent the number of unique users which have taken part in any transaction in a given period of time.
Additionally, an increased number of active addresses indicate a high user engagement which generally heightens the demand. The volume to market capitalization at 12.46% indicates high volatility.
LDO Price DAA Divergence Analysis
furthermore, price DAA divergence is another on-chain metrics which highlights the further growth in Lido DAO price. This metric measures any positive or negative divergence between LDO price and Daily active addresses.
A positive divergence highlights a growth potential in the price and vice versa. The weekly price vs DAA metrics highlights a positive divergence suggesting a potential growth in LDO price.
Apart from it, other technical indicators i.e. RSI placed at 55.86 points suggests a bullish continuation in the short term. The short term Exponential moving averages 20 and 50 day suggest a bullish continuation whereas, 200 day EMA highlights a bearish trend prevailing.
Can Lido DAO Make A Bullish Reversal?
Lido DAO's token price surged, erasing nearly 20% of recent losses over a five-day gaining streak. Despite this rise, the long-term trend remains in a correction phase, posing risks at higher levels. However, positive on-chain metrics, such as a 30% increase in 24-hour active addresses and price DAA divergence, suggest potential growth.
Additionally, The RSI at 55.86 points indicates short-term bullish continuation. While the 20 and 50-day EMAs suggest a bullish trend, the 200-day EMA highlights a prevailing bearish trend. Key levels to watch are $2.5 for a bullish breakout and $1.5 for potential bearish continuation.
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