Lido DAO (LDO) Drops 4.0% But Holds Above Key Support

Lido DAO (LDO) is currently priced at $0.842, marking a 4.0% decline over the past 24 hours. Despite this drop, the token is holding above a crucial support level of $0.8319. The recent price action has seen LDO testing a resistance level at $0.8903, which is significant as it represents the midpoint of a larger channel pattern visible on the daily chart. This zone has also been a concentration area in late May and early June, providing a foundation for the current resistance.

Recent performance above sub-$0.75 levels indicates a positive trend, with lows being higher, suggesting buying pressure. As a result, LDO has reached the upper limit of its short-term trading range. Technical readings from the daily chart reveal a defined channel, with LDO fluctuating between $0.64 and $1.25. The current price action is just below the mid-level, which now acts as resistance at $0.8903. If LDO secures a daily close above this level, analysts anticipate a possible move toward the $1.20 region. This target aligns with the upper boundary of the channel and reflects price behavior last seen in mid-May. However, the price must first hold above current support and overcome immediate resistance to confirm continuation.

LDO’s 24-hour range is between $0.8352 and $0.8922, showing narrow but reactive intraday movement. With BTC and ETH pairings stable, the near-term focus remains on horizontal resistance zones. The 0.057211 BTC and 0.0002830 ETH exchange rates highlight continued capital stability despite the dollar pullback. If the price holds above $0.8319, continuation above $0.8903 could trigger the next technical leg toward $1.20. LDO has yet to officially break out of its current range, but the next important price level is at $1.20. Support around $0.8319 and a close above $0.8903 are crucial for bulls to extend the move.