Crypto
LDO Price Dances on Thin Ice as Sellers Remain Dominant Force
Lido's (LDO) price is currently trading at $0.33, scraping the floor of its Bollinger Band range with every major moving average stacked overhead as resistance.
The price structure is 'ugly' according to Rebeca Moen, and there's no charitable way to frame it. LDO is trading below every significant moving average that matters, the 7-day SMA at $0.35, the 20-day SMA at $0.37, both the 12 and 26-period EMAs at $0.35, and even the 200-day SMA at $0.35.
The only moving average sitting beneath current price is the 50-day SMA at $0.31, which doubles as strong support floor. Momentum has flatlined completely with a dead-flat reading from the MACD histogram and an RSI hovering in the low-to-mid 40s.