Lido DAO Predicted to Surpass Previous All-Time High of $7.22
Over the years, Lido DAO has established itself as the leading liquid staking protocol on the Ethereum network, and its native LDO token has experienced significant success. Many believe that the protocol’s continuous growth will propel LDO to new all-time highs. One crypto analyst has even shared insights into how high the token’s price could potentially go.
Lido DAO’s Journey Towards a New All-Time High
During the 2020-2021 bull run, the price of Lido DAO’s native LDO token reached an all-time high of $7.22. Analysts have been eager to see the altcoin surpass this level, and Weslad, a crypto analyst, anticipates that LDO will exceed this all-time high by at least four times.
According to Weslad’s analysis on TradingView, the LDO/USDT has displayed a robust ascending triangle pattern, indicating potential for a 1,400% price increase. The analyst believes that LDO could test a critical supply zone known as the Neckline and then turn it into a support level.
Potential Growth and Performance of LDO
The first target in this setup is projected to be above its ATH price at $9,176, with further expectations for the price to double its previous all-time high and reach $15.9. In recent weeks, LDO has seen a notable 27% increase in price and a 24-hour positive movement of 10.5%, positioning it among the top gainers in the market.
Additionally, LDO’s large transaction volume has decreased over the past week, suggesting reduced activity by whales. While this may indicate less buying from large holders, it also points towards a trend of holding and waiting for better prices rather than selling tokens immediately.
Hot Take: The Potential Growth of Lido DAO
Lido DAO’s native token, LDO, has shown remarkable performance recently with predictions pointing towards substantial growth beyond its previous all-time high. With positive market movements and decreasing whale activity, there is growing anticipation for significant gains in the near future.
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