However, one noteworthy aspect here is that the TVL is 15.25% down over the last thirty days. Simply put, this means that crypto-assets deposited in the Lido protocol were not as much as the figures seen over the previous month.Based on the four-hour chart, LDO seemed to be playing a support and resistance loss competition. At press time, the LDO support level which held at $1.57 on 30 September had lost its grip all the way down to $1.41, at press time.
Interestingly, all hopes of an uptick may not be lost. This, because LDO’s present movement is synonymous with 19th and 26th June’s momentum. The correlation between them can be found in the way they lost support and activated buying mode. On the charts, after LDO lost its support up until 19 June, the greens took control. At a similar point on 26 June, it was the same case. Considering the prevailing LDO momentum, it is likely that a buy momentum could take effect.
However, if one were to consider the Exponential Moving Averages , it may not be a clear predicament. Especially as the 50 EMA being above the 20 EMA is a seller control signal. Now, although there was an increase in volume over the last 24 hours, it seemed negligible enough to point to renewed investor interest.Subscribe to get it daily in your inbox.
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Source: CryptoAmb - 🏆 22. / 68 Read more »