FxWirePro- LDOUSD Daily Outlook

FxWirePro- LDOUSD Daily Outlook

Lido DAO is a community that builds liquid staking service for Ethereum. Lido allows users to earn staking rewards without locking assets or maintaining staking infrastructure.

Lido liquid staking protocol is an Ethereum 2.0 liquid staking protocol that solves these drawbacks. Users can deposit their ether in Lido smart contracts and receive stETH -- a tokenized version of staked ether -- in return.

Lido is a much more flexible solution than self-staking since it avoids freezing assets and maintaining a validator node.

Lido consists of several parts:

1. stETH Token;
2. Deposits and stETH token minting;
3. Node operator registry;
4. Beacon chain oracles and stETH token balance update;

LDOUSD showed a minor pullback  after a massive sell-off

Any daily close above $4.10 confirms further bullishness.

LDOUSD jumped more than 45% in the past two weeks. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $2.047 and is currently trading around $2.

The bullish invalidation can happen if the pair closes below $1.40. On the lower side, the near-term support is $2. Any break below the target is $1.70/$1.40. Any violation below $1.40 target $0.90.

The immediate resistance stands at around $2.50. Any breach above confirms bullish continuation. A jump to $2.70/$3  is possible. A surge past $3 will take it to $4.

It is good to buy on dips around $2 with SL around $1.40 for TP of $4.