Lido price action shows bulls can enter at these levels

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Since May, Lido DAO token has traded between the $1.57 and $2.56 levels, the mid-range mark at $2.07 was also a notable level.

In early 2023, LDO saw a massive pump where prices surged from $0.9 in December to reach $3.3 in mid-February. During the rally, the $2.6-$2.7 zone was established to be significant. The bulls were unable to defend it and a downtrend was initiated in mid-April. But this trend lost strength in May.Since May, the Lido DAO token has traded within the $1.57 and $2.56 levels of support and resistance. The mid-range mark at $2.07 was also a notable level.

Yet, there was a wide chasm between $1.84 and $1.56 that measured a 15% drop. Hence, buyers must manage their position sizes and risk carefully.

 

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