• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Animoca Denies $200M Metaverse Fund Cut

2023-03-27

Coinbase Chief Legal Officer Says SEC’s Wells Notice a Massive Overreach on Part of Regulator

2023-03-26

US Prosecutors Slam Terra (LUNA) Founder Do Kwon With Eight Counts of Fraud for 2022 Crypto Collapse

2023-03-26
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Animoca Denies $200M Metaverse Fund Cut

    2023-03-27

    Metaverse Trading Hits All-Time High

    2023-03-24

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20

    Nissan Doubles Down on Web3 Innovation

    2023-03-13
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Coinbase Chief Legal Officer Says SEC’s Wells Notice a Massive Overreach on Part of Regulator

    2023-03-26

    US Prosecutors Slam Terra (LUNA) Founder Do Kwon With Eight Counts of Fraud for 2022 Crypto Collapse

    2023-03-26

    Crypto Analyst Nicholas Merten Says Fed Money Printing Won’t Spark New Bitcoin (BTC) Rally – Here’s Why

    2023-03-26

    Bitcoin and Ethereum Investors Are Not Flinching, US Pressure on Crypto Will Backfire: Chris Burniske

    2023-03-26

    Billionaire Chamath Palihapitiya Predicts Corrosion of the Economy, Says Fed Rate Hike Could Cause Real Damage

    2023-03-26
  • Learn

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    2023-03-15
  • Market Cap
CryptoNewsMetaverse
Home»Altcoins»Attention LDO holders! Now might be the time to rethink your trading strategy
Altcoins

Attention LDO holders! Now might be the time to rethink your trading strategy

2023-01-09No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • LDO’s price rallied by over 75% in the last week
  • As investors seek out profit, the bears might be getting ready for a re-entry.

Lido Finance’s governance token LDO, saw a significant increase in price of 78% in the past week. This made LDO one of the top-performing cryptocurrency assets in terms of gains over the past seven days, according to data from CoinMarketCap.

Still on an uptrend at press time, LDO’s price was up by 29% in the last 24 hours. In the same time period, LDO tokens worth $274 million were traded. This led to a significant increase in the daily trading volume of over 500%


Read Lido Finance’s [LDO] Price Prediction 2023-24


With the Market Value to Realized Value (MVRV) ratio of 150.51% at press time, LDO was overvalued. Its market value (the current price which was $1.91) was significantly higher than the realized value (the price at which the asset was recently bought and sold).

This indicated that investors that distributed their LDO holdings since the year began realized double the profit on their investments.

Source: Santiment

But for how long will this continue?

A drawback in the works?

An assessment of LDO’s performance on a daily chart showed that bears might be preparing to re-enter the market. This could lead to a potential decrease in the price of LDO.

Over the last nine days, key momentum indicators rose steadily to rest at overbought highs at press time. LDO’s Relative Strength Index (RSI) and Money Flow Index (MFI) were spotted at 77.96 and 93.37 at press time. 

When an asset’s RSI and MFI lie in the overbought region, the asset’s price has been rising for an extended period of time. As a result, it may be overextended, potentially indicating that a price correction or reversal is imminent.

At overbought highs, buyers in the market are typically exhausted and are unable to initiate any further price rally. Hence, a drawback in LDO’s price might be on the horizon in the coming days.

Further, despite the price rally in the last week,  LDO’s Chaikin Money Flow (CMF) was seen on a downtrend since 6 January. This could thus, create a bearish divergence.


How many LDOs can you get for $1?


If an asset’s price rises but the CMF drops, it could indicate a bearish divergence between the asset’s price and the underlying buying and selling pressure. This divergence signifies that the asset’s price may not be sustained, and a price reversal or correction could be imminent.

Lastly, LDO’s price was significantly volatile at press time. The narrowness of the gap between the upper and lower bands of alt’s Bollinger Bands revealed this. 

When the price of a cryptocurrency is highly volatile, it means that it is prone to rapid and significant price fluctuations. Hence, caution is advised. 

Source: LDO/USDT on TradingView

Source link

attention holders LDO rethink strategy Time Trading
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Metaverse Trading Hits All-Time High

2023-03-24

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

2023-03-22

SEC denies VanEck Bitcoin spot ETF for a third time; commissioners dissent

2023-03-11

Macro Expert Lyn Alden Warns a ‘Straight Up’ Bitcoin (BTC) Bull Market Is Unlikely Any Time Soon – Here’s Why

2023-03-10
Add A Comment

Leave A Reply Cancel Reply

Top Posts

TreasureDAO engineer alleged to have past involvement in questionable NFT projects

2022-03-03

CFTC and SEC cases against SBF deferred until after criminal trial

2023-02-15

Crypto executives discuss the emergence of Web3 tech hubs around the world

2022-11-03

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Animoca Denies $200M Metaverse Fund Cut

2023-03-27

Coinbase Chief Legal Officer Says SEC’s Wells Notice a Massive Overreach on Part of Regulator

2023-03-26

US Prosecutors Slam Terra (LUNA) Founder Do Kwon With Eight Counts of Fraud for 2022 Crypto Collapse

2023-03-26
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,851.00-0.33%
  • ethereumEthereum(ETH)$1,764.23-0.74%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$328.880.54%
  • usd-coinUSD Coin(USDC)$1.00-0.10%
  • rippleXRP(XRP)$0.4888446.50%
  • cardanoCardano(ADA)$0.355832-1.25%
  • dogecoinDogecoin(DOGE)$0.0755100.46%
  • Lido Staked EtherLido Staked Ether(STETH)$1,760.47-0.77%