Lido DAO (LDO) Surges 12% Breaking $1.00 Resistance

Lido DAO (LDO) has recently made a significant move, breaking through resistance near the $1.00 mark with notable strength. The token's price is currently trading around $1.045, marking an over 12% increase in the last trading period. This breakout is characterized by a strong bullish candle with minimal upper wick, indicating that buyers are firmly in control.

Analysts have taken notice of this development. WorldOfCharts highlighted that LDO has already delivered more than 15% in gains and suggested that a 50% move could still be on the horizon. Meanwhile, Seth Fin pointed out a fresh buy signal on the daily chart, noting that LDO's $900 million market cap appears undervalued given the scale of its decentralized finance (DeFi) ecosystem.

LDO's price had been stuck under a downward-sloping trendline since April, with repeated attempts to break out being rejected. However, this week, LDO finally pushed above this trendline with conviction, forming higher highs and higher lows—a classic sign of a trend reversal. This breakout has also pushed LDO's price above both the 50-day and 200-day moving averages, which traders often interpret as a green light for further upside. A measured move target points to $1.17, with $1.20–$1.25 as the next key zone to watch if momentum continues.

Currently, support is holding around $1.00–$1.02, a zone that has flipped from resistance to support following the breakout. If LDO's price drops below this level, the next areas to watch are $0.90 and $0.80, where LDO found strong demand earlier this summer. On the upside, $1.15–$1.30 is the next challenge. This zone has acted as resistance in the past and could be a spot where some traders take profits. If LDO manages to push through that, the $1.70–$2.60 region could come into play next.

The technical breakout has garnered support from analysts. WorldOfCharts described the $1.00 breakout as a "crucial" move and expects a bigger run if the momentum sticks. Seth Fin also pointed out a system buy signal and mentioned that LDO's fundamentals could support a much higher valuation. With strong technicals, a shift in market structure, and growing attention from traders, LDO's price is starting to look like a project with significant potential. If the trend holds and volume stays strong, $1.30 might just be the next stop.