Lido DAO (LDO) has proven to be one of the top performers in the cryptocurrency industry in the last 30-days.
The cryptocurrency has not only moved into the positive zone but it has also exceeded the expectations of the entire LDO community.
LDO’s Surge to Meet an Unfortunate End
Despite recording a surge in value, many investors with experience in trades know it is going to meet an unfortunate end.
According to many analysts, the upward movement of LDO may finally come to an end. The investors of LDO and the ones holding large quantities of LDO will see a significant drop in their holdings.
Their portfolios may fall due to the negative movement of LDO as the investor is getting ready for a downtrend.
Lido May Go Down Any Time
According to the technical analysis, a downtrend is overdue for Lido DAO but it has managed to keep moving in the upward direction for now.
Despite the negative expectations, LDO has continued moving upwards but the fears of LDO plunging still linger.
Lido DAO Trying to Evade a Reversal
Although the technical analysis suggests a price dip, it is the buying pressure of the investors that have kept it going.
However, from time to time, LDO has been entering the consolidation territory just like it did two weeks back. The constant buying of the bulls has kept the rally going and LDO has entered an overbought zone.
Two weeks back, LDO had experienced the same trend entering the overbought zone, which resulted in a 10-day long consolidation period.
Then it was the last week when LDO experienced the same trend where its price fell by 15% only to rebound much stronger. In a matter of a month, LDO has recorded a 483.07% rally but the rally is close to coming to an end.
A Reversal is Imminent
As LDO has been entering the overbought zone, again and again, there are firm suggestions that this time, LDO will move into the negative zone.
Many investors have already figured out that the positive trend is coming to a close. Therefore, they have started selling LDO to the exchanges.
The data suggests that in a matter of 20-days, almost $26 million worth of Lido DAO has been sold to the cryptocurrency exchanges.
The Reversal is not to be worried about
The best news about LDO for the investors is that despite the reversal, LDO is set to exhibit a safe territory.
If the price experiences a reversal, it would be a correction, which would allow the investors to HODL LDO. This would be yet another opportunity for the investors to gain from the digital asset.