$LDO Lido DAO is preparing for important updates
The recent price spike of LDO was accompanied by a significant increase in the number of new addresses. Over the past week, their number has increased by 292%, from 109 to 428. This is a five-month high. The sharp rise in new addresses indicates high optimism among investors. Many new holders are eager to profit from a potential price increase fueled by anticipated updates.
The NUPL metric (net unrealized profit/loss) of LDO is approaching an important threshold. Historically, when NUPL reaches a neutral mark of 0, it often becomes a reversal point. This means that despite strong growth, the price may pull back if NUPL crosses this neutral zone.
If NUPL shows a transition from profit to loss for holders, it could signal a price decline. The token demonstrates strong bullish sentiment, but this indicator warns that traders should be cautious.
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LDO's price needs to establish itself above support.
LDO's price has risen by 68% over the past week and is trading just below resistance at $1.56.
The upcoming update for token holders has created strong bullish sentiment.
However, for LDO to hold its position, it needs to overcome resistance at $1.56.
A successful breakout above this level could push LDO to the next resistance at $1.82.
A breakout at $1.56 is quite possible due to the increase in the number of new addresses and the excitement surrounding the Tokenholder Update.
If momentum is maintained, LDO could reach a significant mark of $2.00.
If investors decide to take profits after the recent rise, LDO could pull back.
A drop below $1.34 may indicate a trend reversal, with a possible decline to $1.18 or lower. In this case, the bullish scenario will be canceled.
