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LDOUSDT trade ideas

LDO USDT WCA - Ascending Triangle Experiment Exchange: Binance Project: Lido DAO Ticker: LDO Sector: Cryptocurrency Introduction: Today, we will be conducting a technical analysis of the Lido DAO/USDT on the Binance exchange on a weekly scale chart. This analysis is particularly intriguing as the pattern formation we're observing typically occurs during reversal or continuation stages in a more mature market. However, Lido DAO is a new entrant in the market, turning this analysis into a compelling experiment. Pattern Analysis: The key pattern formation observed in Lido DAO is an Ascending Triangle. The upper horizontal boundary of this triangle is at $3.125 and has been touched thrice. Similarly, the lower, upward-sloping boundary also has three touchpoints. Usually, we would use the 200 EMA to identify the market environment. However, due to the novelty of the chart, we will need to adapt our approach. With the chart and pattern being 378 days old, I have calculated a makeshift EMA as follows: 378 days -> 54 weeks -> 54/4 -> 13.5 -> 14. This yields the 14 EMA. At present, the 14 EMA doesn't indicate a bullish environment, underlining the importance of not jumping into trades prematurely. Projection: Despite the current lack of a bullish environment, we can still provide a price target for those holding Lido DAO. Should the price break above the upper boundary, the price target would be $5.55, representing a potential increase of 77%. Conclusion: While Lido DAO is currently a watchlist candidate, it's crucial to be patient and wait for more bullish signals before making any trading decisions. As always, this analysis should be considered as part of a comprehensive trading strategy, with adequate risk management measures in place. Keep a keen eye on this experimental chart, and happy trading! Best Regards, Karim Subhieh
by KarimSubhieh
LDO (Lido) Finally going down LDO/USDT (Lido Coin) is currently experiencing a bearish trend as its daily trend is declining. The price of LDO/USDT has been gradually decreasing, indicating a downward movement in the market. Traders and investors should be cautious as this downward trend suggests a potential decrease in the value of Lido Coin. Furthermore, the support level for LDO/USDT is currently below $1.84. The support level is an important indicator as it represents a price point at which buying pressure typically increases, preventing the price from falling further. However, in this case, the support level being below $1.84 suggests that there is a higher likelihood of the price continuing to decline. Investors and traders should closely monitor the market conditions and consider their investment strategies accordingly. It is advisable to exercise caution and potentially consider alternative investment options until the bearish trend reverses or stabilizes.
Short
by Mostofa5973