LDO massive break-out to come for BINANCE:LDOUSDT by evasivesteering

LDO has been consolidating for almost two years and formed a kind of ascending triangle. The break-out is very closed and when this happens, LDO would accelerate its momentum.

We know that LDO price is correlated to ETH and it seems that ETH is in a waiting mode, expecting some news on Spot ETF. Nonetheless, irrespective of the Spot ETF news, following BTC's recent rally, capital inflows are expected to gravitate towards the ETH ecosystem. Consequently, LDO stands out as a prominent beneficiary in such a scenario.

My entry will be mentionned in the comment.

---- About LDO -----
Lido DAO is a decentralized autonomous organization (DAO) that offers staking infrastructure for various blockchain networks, notably providing a liquid staking solution for Ethereum. Users can stake their ETH and receive stETH tokens in return, representing both their staked ETH and rewards. Secured by decentralized governance, audited code, and smart contracts, Lido operates on Ethereum with audited smart contracts managing deposits and rewards distribution. LDO is its native token, serving as the governance token, enabling holders to participate in decisions regarding board adjustments, integrations, and updates. While initially supporting Ethereum, Polygon, and Solana, Lido now focuses on Ethereum and Polygon following the sunsetting of Solana support.

Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.

Comment:

My reference entry point is when LDO breaks the 1D trendline as in the following chart:

Comment:

I bought dips at this price (EMA50D). Second buy when LTC breaks the 1D trendline.

Trade closed manually:

I closed this trade (with -10%)

Trade active:

I bought some LDO at price of $2.4 and accumulate more in the "Buy area". A better price (but not sure if it comes) are around $2.

Comment:

I accumulated in the "Buy Area", if LDO revisits this zone, I'll wait to buy more.
Target is around $18.

Comment:

LDO has been rising 50% since the Buy area. It is going to retest the weekly resistance.

Disclaimer

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