The post Time To Ride The Trend appeared on BitcoinEthereumNews.com.

Lido DAO crypto gained traction and broke out, marking the end of a correction phase. The daily chart also revealed a breakout from an interesting channel pattern. Moreover, the breakout has been backed by a significant jump in the volume inflow and social sentiments indicating an increased demand which may push the price higher. At the time of writing, LDO was exchanging hands at close to $2.36 post an intraday rise of 8.3%. Lido DAO Crypto: Social Sentiments and Volume Explodes!  Lido DAO crypto has made a bullish reversal, rising 8.3% intraday. The crypto broke out of a declining parallel channel pattern, thus shifting the trend into positive territory.  As per the data obtained by a financial website app.santiment.net, there has been a notable increment in social metrics. the social dominance and social volume has surged to a three month high indicating an increased participation of the social media users and the community members. Moreover, the breakout is supported by a massive rise in the volume inflow. The volume inflow has surged by 40% reaching $327.9 Million per day. The volume to market cap ration was 15.31% indicating an increased volatility.   Analysts Anticipate a 50% Growth Ahead?  The daily chart witnesses a breakout of a descending parallel channel pattern. The rise in volume inflow indicates an increased demand for the crypto adding confirmation to a breakout scenario.     From a technical point of view, the crypto broke out of a 200-day exponential moving average, signaling a bullish reversal. On the higher side, if the bulls surpass the recent supply of $2.60, the price could conquer the next $3.6 level supply, marking a potential rise of nearly 50%. At the time of writing, the RSI line was placed at 56.84 points and the 14 day SMA line was at 45.25…

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Filed under: News - @ June 19, 2024 11:18 pm