Issued on: 07th Jun’23
Valid upto: 12th Jun’23
Token: LDO
Category: Layer 2
Market Cap: $2.07 Billion
Circulating Supply: 879,346,056
Total Supply: 1,000,000,000
Price Update:
LDO price at the time of writing (07th June, 16:00) is $2.36 with 24-hour trading volume increased by 36.37% to $119 Millon. LDO price is up by 5.4% in the last 24 hours according to coinmarketcap.com.
Source: Tradingview
Analyzing the above chart:
- LDO is currently supported by an incline support and is adhering to the horizontal trendline in the daily timeframe.
- Following the significant decline on June 5th, LDO is displaying strength relative to bitcoin. Additionally, the trading volume in the past 24 hours has been substantial.
- In the 4-hour timeframe, LDO has successfully surpassed resistance level 1($2.27) after being in a range-bound state. Currently,it is progressing towards resistance level 2($2.59).
- A Long Trading strategy can be assessed between $2.37-$2.27 with invalidation below $2.20
- On the upside, one can see a rise of 8-10% towards $2.57.
- It would seem that one should maintain a balanced risk to reward ratio and check use of leverage and position size to ride out current market conditions.
An illustration of leverage in Futures Market:
Note: LDO is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade LDO in Futures Market at CoinDCX app
Trade LDO in Futures Market at CoinDCX Pro app
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
