The post Lido DAO (LDO) Set for Potential 250% Surge Amid Ethereum (ETH) Upgrades: Expert Insights appeared on BitcoinEthereumNews.com.

Lido DAO (LDO) has been experiencing significant buying pressure over the past week. Most indicators and market sentiment appear bullish for LDO. A bullish flag pattern suggests a potential 250% uptick for LDO. Discover the recent surge in Lido DAO (LDO) and its potential for further growth amidst bullish market sentiment. Lido DAO’s Bull Rally: A Closer Look Lido DAO (LDO) has been one of the standout performers in the crypto market recently, benefiting significantly from the approval of Ethereum ETFs. Over the past seven days, LDO’s price has surged by more than 40%, according to CoinMarketCap. In the last 24 hours alone, the token’s value increased by over 11%, trading at $2.53 with a market capitalization exceeding $2.25 billion. Interestingly, while Lido DAO saw a double-digit growth, Ethereum (ETH) only experienced a 1% increase during the same period. This disparity highlights LDO’s strong performance and suggests that the token might continue to rise, especially with a bullish pattern emerging on its price chart. Analyzing the Bullish Flag Pattern World of Charts, a well-known crypto analyst, recently highlighted a bullish flag pattern for LDO. The latest price uptick has pushed LDO’s price towards the upper limit of this pattern. A breakout above this level could potentially lead to a further growth of nearly 250% in the coming weeks. To understand whether LDO can sustain this momentum, we analyzed data from Santiment. Our analysis revealed a sharp increase in LDO’s exchange outflows last week, indicating heightened buying pressure. This trend was further supported by a significant drop in the token’s supply on exchanges, coupled with an increase in its supply outside of exchanges. Such dynamics often lead to price hikes, increasing the likelihood of a bullish breakout. Will LDO Continue Its Upward Trajectory? Examining LDO’s daily chart provides additional insights into…

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Filed under: News - @ May 26, 2024 7:12 am