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LDO / TETHER Standard Futures

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LDOUSDT.PS trade ideas

LDO/USDT (Long) - Bet on a pre-Merge hype and a successful MergeThe long-awaited Merge upgrade is just around the corner, and we believe that traders will try to bid up the price of Ethereum and any of its scaling solutions (Optimism, Polygon, Lido) right into the Merge. The success of the upgrade is not yet priced in as investors might worry that something goes wrong during the upgrade. Hence, we assume that if everything goes smoothly, tokens linked to Ethereum will receive an additional pump . We have done plenty of research on the Merge, and we believe that developers are properly prepared for the Ethereum transition , and I am willing to bet on its success. One possible caveat is the overall economy. Just around the start of the upgrade, on the 13th of September, we will receive the CPI data for August. If the number is higher than expected, it could cut the rally short and send cryptocurrencies plummeting. However, if it comes lower than expected, it might add an additional boost to the rally. Despite these potential headwinds, we still believe that the enthusiasm around the Merge will prevail and send the cryptocurrencies higher. We picked LDO for this bet because of its higher potential returns (that obviously come with higher risk) and its solid technical setup . On the graph, we can see that LDO is forming a head-and-shoulders pattern (H&S) on a daily while the RSI is bottoming, thus pointing to a higher price. One option is to use the neckline (purple line) for the entry. In that case, we would recommend using the entry also as a stop loss . Though it is a safer choice, you might have to reenter the trade several times if you get whipsawed off the trade. The other option is to go long now (as we did) and hope that the H&S completes the pattern. In that case, we would use the red line for the stop loss; that gives you a nice risk/reward ratio of 5.5 if we use the green line as a profit target. However, the profit line certainly doesn't serve as a ceiling, and we expect LDO to go much higher. The sky is the limit if everything goes well with the Merge Happy Trading! Dollero Exchange PS: Our followers might be aware that we have already posted this trade once, but it was unfortunately taken down for breaking the house rules. So, we are just reposting this trade because the setup just got better and we would like to keep the trade on the timeline Follow us for more analysis & Feel free to ask any questions you have, we are here to help If you like our content, Please leave a like and a comment, it keeps us going
Long
by DolleroTechnology
LDOUSDT Repeating April's bearish fractal unless this breaks.LIDO DAO (LDOUSDT) broke above its 1D MA50 (blue trend-line) today as so far the correction since the August 13 High was contained inside the green Ichimoku Cloud. This isn't yet the time to be bullish, as the same Cloud provided support from April 18 to April 28 and despite breaking again above the 1D MA50, the rebound was short-lived as it failed to cross above the 0.5 Fibonacci retracement level. See how both the 1D RSI and MACD sequences are identical. As a result, it may be in your best interest not to be bullish again before the 0.5 Fib breaks (2.3300). If it does, we can target the 3.10 Resistance and -0.5 Fib in succession. If not, expect more selling towards the 1.5 Fib as in May. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
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