Lido Dao’s Token (LDO) has seen an astounding 68% price surge over the past week, based on forecasts surrounding the first-ever Lido Dao token holder update scheduled for this Thursday.
This optimism is reflected in LDO prices, indicating the possibility that Altcoin will further improve in the short term.
Lido Dao is preparing to provide major updates
The recent surge in LDO prices has seen a significant increase in the number of new addresses. Over the past week, new addresses have increased by 292%, up from 109 to 428. This is five months high, indicating that it is entering the market with a positive view of the future of LDOs.
The sharp rise in new addresses is a clear indication that investors’ sentiment is overwhelmingly bullish. Many new owners are positioning themselves to benefit from potential price increases, spurring the expected development discussed in the token holder update.
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The NUPL (Net Unrealized Profit/Loss) metric for the LDO is approaching a significant threshold. Historically, when Nupl reaches 0 neutral mark, it often acted as an inversion point. This suggests that while the LDO is experiencing strong upward momentum, if the NUPL crosses this neutral zone, it could face a pullback.
If the NUPL indicator indicates a transition from owners’ profit to loss, it could indicate a slump in price for an LDO. Altcoin shows strong bullish sentiment, but this key indicator suggests that traders should remain vigilant.
LDO prices should ensure support
LDO prices have skyrocketed 68% in the past week, reaching $1.53 under $1.56 resistance. Future updates to Tokenholder have created strong bullish sentiments, but for the LDO to maintain its recent profits, it must break the $1.56 resistance. A successful breakout above this level could drive the LDO towards the next resistance at $1.82.
With a surge in new addresses and hype around token holder updates, LDOs are positioned to push beyond $1.56. If momentum continues, the LDO could reach $2.00, marking a key milestone for AltCoin.
However, if investors decide to cash in on a recent price surge, the LDO could experience a pullback. A decline below $1.34 could indicate a reversal of momentum, with prices dropping below $1.18. If this occurs, bullish papers will be invalidated.
Post LDO prices rose 68% ahead of Lido Dao’s first token holder update.
