LDO Price Action: Top Traders Load Up Below $0.37
LDO, the liquid staking token, is currently trading at $0.35 after a slow bleed in August. Despite the lack of clear catalysts and thin volume, top traders are leaning heavily long on futures contracts, with 61% of their positions being bullish.
The current price action suggests that LDO is not breaking down, but rather consolidating its gains from previous weeks. Every major moving average sits below the current price, confirming this view. The short-term SMA 7 at $0.36 is currently acting as a ceiling, and clearing it could lead to further gains.
The MACD has flatlined, indicating that the buying momentum has stalled out. However, open interest has grown 2.76% in 24 hours to nearly $15M notional, suggesting that smart money is accumulating LDO at this level.