Lido DAO price revisits key support level: what next for LDO?
Lido DAO (LDO) price fell nearly 10% as altcoins dumped.
Bitcoin’s bounce sees Lido DAO price recover to a key level.
Bears are, however, likely to pull LDO lower.
Lido DAO (LDO), a leading liquid staking protocol in the market, saw its native token’s price dip by nearly double digits as volatility hit cryptocurrencies early Monday.
Lido DAO (LDO) has rebounded to a key technical level alongside a broader recovery in risk assets.
However, the outlook remains fragile, with the possibility of a fresh drop if bears regain control, particularly if the price revisits the $0.86 mark.
On-chain data adds to the cautionary tone, as whale activity around LDO has spiked.
A notable large holder recently moved a significant amount of tokens to major crypto exchanges, a move that could signal intent to sell and potentially exert downward pressure on the price.
Lido DAO price slips to key support level
Lido DAO’s price hovered above $1.16 last week. However, with altcoins still unable to master an altseason, the token’s price has ridden downside action to slip more than 16% in the past week.
In the past 24 hours, the LDO token’s value dipped to $0.86. This decline in early trading hours on May 19, 2025, largely aligned with Bitcoin’s dip from above $106k.
A broader market trend that also saw Ethereum shed gains to below $2,300 also shaped Lido DAO’s price action.
“The broader crypto space is seeing similar momentum. Coinbase is set to join the S&P 500 tonight — a landmark moment for institutional credibility, coming on the heels of its acquisition of Deribit. Mainstream adoption is no longer a question of “if. Volatility markets agree. Despite sideways spot action, crypto vols remain firm, and $BTC call skew is holding across tenors — a sign of structurally bullish positioning,” QCP analysts posted.
LDO price analysis
Some of the bearish pressure on Lido DAO price is from whales selling.
Profit taking and other market dynamics have seen large holders dump LDO tokens.
On-chain data and analytics tracker Lookonchain highlighted one such incident on Monday.
Per the data, a large whale dumped 21.3 million LDO tokens (worth about $21.6 million) over the past week.
The selling added to the overall profit taking deals, pushing the Lido DAO price down more than 25% over the week.
Speculation of likely insider selling also contributed to today’s price decline.
LDO chart by TradingView
Technical indicators provide a bearish outlook. The Relative Strength Index (RSI) indicates LDO is near the oversold territory.
Meanwhile, the Moving Average Convergence Divergence (MACD) suggests weakness with a bearish crossover.
If LDO holds above $0.86, it could target resistance near $1.00. However, downside action could see it slide toward $0.80.
The post Lido DAO price revisits key support level: what next for LDO? appeared first on CoinJournal.
Filed under: Bitcoin - @ May 19, 2025 8:02 pm