- Whale accumulation jumps 69.07% as LDO tokens leave exchanges, pointing to strong hands entering the market.
- Price hovers at key $1.19 support after breakout, with bulls needing to defend this zone for upside continuation.
- Technical indicators show mild bullishness, but weak volume raises questions about the breakout’s strength.
LDO is holding at a crucial level after breaking out of a long-term range.Trading at $1.19 with steady volume, the next few sessions will reveal if bulls can sustain momentum or if consolidation will drag prices lower again.
LDO Stands at a Pivotal Moment
Lido DAO (LDO) has stepped into a crucial phase after breaking out of its long-standing horizontal channel. As flagged by Alpha Crypto Signal,the token is now retesting that breakout level on the daily chart, with price currently sitting just above $1.19. The former resistance, now acting as support, will likely decide the next major move.
After a strong attempt to break through $1.30–$1.40, LDO met resistance and retraced. It’s now balancing near $1.15–$1.20 — the upper end of the consolidation zone that defined much of its price action earlier this year. Holding above this zone is key to keeping the bullish structure intact.
Backing this setup is on-chain data showing that exchange balances have dropped 8.01%, down to 282.77 million tokens. Meanwhile, whale addresses boosted holdings by 69.07%, now sitting at 16.71 million. The move hints at confident accumulation from large players, which could reduce market sell pressure if sustained.
Indicators Show Neutral Bias, Volume Still a Concern
The 4-hour chart from TradingView shows LDO recovering from a $1.12 low and stabilizing just under key moving averages. The 50-day SMA at $1.2068 and 9-day EMA at $1.1984 are currently acting as resistance overhead.
The MACD has recently flipped bullish, but with limited strength. Without rising volume, this crossover lacks conviction. The RSI stands at 52.66, giving bulls a slight edge, but still signaling a neutral zone. Volume has faded significantly from August levels, now at just over 110.8K — not ideal for breakout confirmation.
Data from CoinMarketCap shows LDO’s market cap swinging between $1.02B and $1.11B during September 2–8. The chart shows multiple V-shaped recoveries, suggesting buyers are active on dips. However, the sharp reversals also hint that sellers haven’t gone away.
