Lido Finance: Decline in TVL, re-emergence of bears, and everything in between

revealed a persistent drop in Lido’s share of that vertical. As of this writing, Lido only controlled 29% of the market. On May 22, this stood at 32%.LDO’s price, which has risen 109% in the past month, could experience a downturn as analysis of its daily chart suggests the start of a bear market cycle.

An assessment of the alt’s moving average convergence/divergence revealed an intersection of the MACD line with the trend line in a downtrend on 27 January. The indicator has since been marked by red histogram bars. In fact, LDO’s price has since dropped by 9%, per CoinMarketCap. When an asset’s MACD line crosses the trend line in a downtrend, it often signals a potential trend reversal or a change in momentum. As a result, it is considered a bearish crossover, and traders often interpret it as a sell signal.Also, key momentum indicators such as the Relative Strength Index and the Money Flow Index were in downtrends. For example, at press time, LDO’s RSI was 52, while its MFI had fallen below the neutral line to be pegged at 37.24.

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