LIDO DAO Token Report – 09th June’23

Lido serves as a liquid staking solution designed for Ethereum. It enables users to stake their ETH without any requirements for minimum deposits or infrastructure maintenance. By doing so, users can actively participate in on-chain activities such as lending and benefit from compounded returns.

The LDO token is ranked #30 with a market capitalization of nearly $2 billion. The current market price of the token is $2.1 USDT

The LDO/USDT chart had recently broken above the descending trendline. Currently, the trend is retesting the breakout levels, on the daily timeframe. The next resistance is expected at 2.58 USDT and an immediate support is expected at 1.58 USDT.

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