Lido DAO ( LDO ) price prediction: Currently undergoing a short-term support test, targeting $1.35.

Since mid-July, the price of Lido DAO (LDO) has been rising steadily, breaking through key moving averages and benefiting from the strong performance of the overall market. However, after approaching a local high of $1.30, the price has retraced and is now back around $1.09, testing key short-term support on the 4-hour chart.

LDO breaks through key MA, price rises

The price of LDO has broken through the 100-period Simple Moving Average (SMA) around $0.85, initiating a rise trend since mid-July. As the price sets higher highs and higher lows, LDO has broken through $1.00 and is ultimately approaching the range of $1.25-$1.30.

However, after reaching a local high, selling pressure gradually entered, causing the price to retract and leading to a cooling of the market.

Lido DAO maintains an upward trend line

The most striking part of the chart is the rising trend line that has been present since mid-July. During the pump, this trend line has repeatedly served as a launching platform for price rebounds.

At the moment, the LDO price is retesting the $1.05–$1.09 range, which is the support zone to focus on for now. If the LDO price stabilizes and rebounds here, it could mean that the uptrend is still valid. However, if the trend line breaks, LDO prices are likely to retreat further until fresh buying support is found.

If the LDO price breaks through the downward support zone

If the trend line does not receive support, LDO will face downside risks. The 100 SMA is located around $0.946 and has served as a strong support area earlier this month. If the trend line breaks, this moving average range (approximately between $0.94 and $0.96) could become the next support level for buyers to enter.

In addition, there is also historical support around $0.85, which marks the bottom before the previous breakout. If the price further retraces, this area may play a role again.

The rise potential of LDO is still promising

If buying interest can re-enter, the LDO price will need to break through the resistance range between $1.15 and $1.20 to challenge the recent high of $1.30. If it breaks through this level, LDO could potentially rise further, with targets possibly pointing towards $1.35 and higher levels.

Conclusion

Currently, the market's focus is on whether LDO can maintain the support of the rising trend line. If the price rebounds and maintains the upward trend, it may restart the previous bullish market. Conversely, if the price breaks below the support range, attention may shift to lower support levels.