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The Lido DAO price is up 3% in the past 24 hours to trade for $1.983 as of 04:09 a.m. EST.
LDO is among the top gainers on BitFlex, standing alongside Tellor (TRB), Tron (TRX), SushiSwap (SUSHI), and Ethereum Classic (ETC). It comes as the altcoin sector continue to bleed, with the Lido DAO price being an outlier drawing tailwinds from a new sponsorship announcement.
🚨 NEW SPONSORSHIP ANNOUNCEMENT
Stoked to announce that our pool of sponsors is growing bigger because @LidoFinance is joining us. 🙌
Lido is a liquid staking protocol backed by industry-leading staking providers that supports staking for Ethereum and Polygon.
Welcome aboard,… pic.twitter.com/XKXhk20tXG
— ETH Belgrade (@ethbelgrade) May 3, 2024
But according to trader @Learnernoearner on X, the altcoin may have more downside, indicating that buying would be best when its price plunges to $1.25.
$LDO i have seen this market structure play out many times over and over again.
Will be placing some bids on #LDO around 1.25❤️ pic.twitter.com/kaFylUjxNW
— UNKNOWN TRADER (@Learnernoearner) May 7, 2024
Lido DAO Price Prediction
From a technical standpoint, this trader may be right about further downside, considering the technical indicators lean in support of the bears. To begin with, momentum is falling, shown by the dropping Relative Strength Index (RSI). If this trajectory extends, the RSI could soon execute a sell signal when it crosses below the yellow band of the signal line.
Furthermore, the Awesome Oscillator (AO) shows a budding red histogram bar, suggesting a growing bearish sentiment. With the Lido DAO price stuck below the suppression of a descending trendline, bears could recover the market, sending the Lido DAO price into the pool of liquidity that extends from $1.481 to $1.848.
TradingView: LDO/USDT 1-day chart
Converse Case
Conversely, if the $1.838 level holds as a support floor, the Lido DAO price could activate the falling wedge with a 23% breakout to $2.439. This bullish reversal technical formation is viable considering the higher lows on the Relative Strength Index (RSI). The same trajectory is seen on the AO indicator, pointing to growing bullish sentiment that could bode well for the LDO price.
In a highly bullish case where the 23% target objective of the falling wedge is obtained, the Lido DAO price could extend the climb, overcoming resistances due to the 50-, 100-, and 200-day Simple Moving Averages (SMAs) at $2.869, $2.746, and $2.626 levels respectively.
A decisive move above these roadblocks could clear the path for the Lido DAO price to extend the climb to the first supply zone between $3.285 and $3.631. A break and close above its midline at $3.457 would confirm the continuation of the uptrend.
In a highly ambitious case, the bulls could haul the Lido DAO price to the second supply zone marked between $3.600 and $3.794.
In the presale market, meanwhile, investors are rushing to buy and stake green AI crypto eTukTuk for 85% in annual rewards. Funds raised from the presale have already surged past $3.25 million.
Promising Alternative To Lido DAO
Some analysts say TUK is among the best crypto ICOs of 2024. It is the native crypto of the eTukTuk ecosystem, which aims to be the AI-integrated, eco-friendly future of transportation, while enabling investors to earn right away. The project provides entry into a sustainable transportation revolution with its green $TUK token presale.
Join the movement towards cleaner streets and clearer skies.
In a world choking on carbon emissions, be the change you wish to see.
Together, let's drive towards a sustainable future with #eTukTuk. 🌍 pic.twitter.com/CsWUd3I4Og
— eTukTuk (@eTukTukio) May 7, 2024
The project sets out to help Tuk Tuk drivers adopt a more energy-efficient mode of transportation. Developing economies make for the project’s main target, as it leverages the $TUK token to establish Electric Vehicle Charging Stations (EVSEs) in South Asia and Africa.
Electric vehicles offer more than just a ride.
They're a #sustainable solution for cleaner air and savings on fuel costs.
Make the smart choice for the planet and your wallet with #eTukTuk. 🌿💰 pic.twitter.com/ifcKMroANI
— eTukTuk (@eTukTukio) May 6, 2024
Among the key distinguishing factors of the project is that it presents a robust use case. It has a well-defined concept, meeting users where blockchain tech and sustainability intersect. By choosing eTukTuk, you’re not just making a transportation choice, you’re taking a stand for a cleaner, healthier planet
Did you know that carbon emissions from vehicles contribute significantly to climate change, air pollution, and global heath crises!
From extreme weather events to respiratory diseases, the impacts are profound.
By choosing #eTukTuk's, you're not just making a transportation… pic.twitter.com/zvb3lmJJyp
— eTukTuk (@eTukTukio) May 4, 2024
Buy & Stake TUK For Up To 85% In Annual Rewards
Capitalize on eTukTuk’s staking mechanism, with the initiative offering stakers an 85% annual percentage yield (APY). Users will get 4.75 $TUK for each BSC block in $TUK Token incentives.
Rewards will be payable over 3 years and are determined by your share of the staking pool and annual returns percentage.
This is one of the reasons why crypto YouTuber and analyst Michael Wrubel is bullish on TUK.
TUK tokens sell for $0.031 each. With a price hike due in a little more than two days, buy now if you are interested to lock in the best deal and be a part of a better, sustainable future for all.
Also Read:
- Green AI Revolution in Web3 – Here’s How You Can Seize the 100X Opportunity With eTukTuk
- eTukTuk (TUK) Storming Into 2024 With Massive Funding, Learn Why Here
- eTukTuk Strives to Bring Sustainable Transport to Developing Nations With Its Innovative Three-Wheeler EV and Charging Infrastructure
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