Lido DAO Faces Investor Apathy: Will the Downtrend Persist?
Lido DAO Faces Investor Apathy: Will the Downtrend Persist?
Meta Description: Lido DAO price has been struggling, experiencing a sharp 38% drop in early August.
The 24 hour as well as 7 day active addressees curve seemed to be declining indicating a waning interest of the investors.
At the time of writing, Lido DAO was exchanging hands close to $1.09, recording a 2.44% positive development in intraday.
Lido DAO price seemed to be struggling at the lows in order to find a firm footing. Earlier, LDO experienced a sharp crash in the 1st week of August losing over 38% a week. The price slumped to multi month lows indicating a strong bearish control.
At the time of writing, Lido DAO was exchanging hands close to $1.09 recording a positive intraday development of 2.44%. Despite the efforts to find stability near the demand, the loss in the active addresses curve highlights the waning interest of the investors.
Lido DAO provides staking to a wider range of users by pooling stacked ETH from multiple users. It is a decentralized autonomous organization (DAO). With a live market capitalization of $986.388 Million and ranks 64th in the crypto space.
User Engagement On The Decline
Despite the recent efforts by Lido DAO to withstand above the demand zone and psychological level of $1, there has been a steep decline in the Active addresses indicating the waning interest of the investors.
<iframe title="Santiment Chart: Price (LDO), Active Addresses 7d (LDO), Active Addresses 24h (LDO)" width="800" height="425" src="embed.santiment.net/chart?ps=lido-dao&pt=LDO&df=2024-02-18T18:29:59.311Z&dt=2024-08-18T18:29:59.311Z&emcg=1&emhwm=1&wm=price_usd;active_addresses_7d;active_addresses_24h&wax=0&wc=#26C953;#FFCB47;#FF5B5B&ws={"node":"area"};;" scrolling="no"></iframe>
Source: app.santiment.net
As per the data obtained by an on-chain analytics website, the 24 hour as well as the 7 day active addresses curves seemed to be headed downwards. The decline in the active addresses highlights losing confidence of the investors.
The active addresses reveal the total number of unique users taking part in a transaction in a given period of time. An increased active address indicates a strong demand and the willingness of the investors to buy and vice versa.
Moreover, the transaction volume has dropped by 7.89% a day to $53.23 Million highlighting a drop in demand despite the price rise in intraday. The volume to market cap ratio at 5.3% suggests low volatility.
Is Lido DAO A Sell On Rise For Next Week?
The Lido DAO price seemed to be struggling for a firm establishment near the $1 psychological level. The drop in the transaction volume and active addresses highlight the waning interest of the investors in the short term which may again allow bearish forces to act at the higher levels.
On the higher side, the $1.2 level may act as an immediate resistance and try to halt the further momentum of Lido DAO. The price currently hovers below the all the key exponential moving average indicating a bearishness in the short term as well as long term.
On the lower side, the breakdown of the $1 level could further fuel a bearish trend continuation towards the $0.8 level. However, until the $1 is defended, the bulls may attempt to turn the tables in their favor. The technical indicators leave a bearish note on a combined analysis.
Lido DAO's price has been struggling, experiencing a sharp 38% drop in early August. Currently trading around $1.09 with a slight intraday gain, the price faces challenges due to declining active addresses, indicating waning investor interest. Despite attempts to stabilize above the $1 psychological level, bearish forces seemed to be in domination.
Moreover, the $1.2 level acts as immediate resistance, while a breakdown below $1 could push the price towards $0.8. Technical indicators suggest a bearish outlook in both short and long terms, with declining transaction volumes and active addresses highlighting investor uncertainty.
Meta Description: Lido DAO price has been struggling, experiencing a sharp 38% drop in early August.
The 24 hour as well as 7 day active addressees curve seemed to be declining indicating a waning interest of the investors.
At the time of writing, Lido DAO was exchanging hands close to $1.09, recording a 2.44% positive development in intraday.
Lido DAO price seemed to be struggling at the lows in order to find a firm footing. Earlier, LDO experienced a sharp crash in the 1st week of August losing over 38% a week. The price slumped to multi month lows indicating a strong bearish control.
At the time of writing, Lido DAO was exchanging hands close to $1.09 recording a positive intraday development of 2.44%. Despite the efforts to find stability near the demand, the loss in the active addresses curve highlights the waning interest of the investors.
Lido DAO provides staking to a wider range of users by pooling stacked ETH from multiple users. It is a decentralized autonomous organization (DAO). With a live market capitalization of $986.388 Million and ranks 64th in the crypto space.
User Engagement On The Decline
Despite the recent efforts by Lido DAO to withstand above the demand zone and psychological level of $1, there has been a steep decline in the Active addresses indicating the waning interest of the investors.
<iframe title="Santiment Chart: Price (LDO), Active Addresses 7d (LDO), Active Addresses 24h (LDO)" width="800" height="425" src="embed.santiment.net/chart?ps=lido-dao&pt=LDO&df=2024-02-18T18:29:59.311Z&dt=2024-08-18T18:29:59.311Z&emcg=1&emhwm=1&wm=price_usd;active_addresses_7d;active_addresses_24h&wax=0&wc=#26C953;#FFCB47;#FF5B5B&ws={"node":"area"};;" scrolling="no"></iframe>
Source: app.santiment.net
As per the data obtained by an on-chain analytics website, the 24 hour as well as the 7 day active addresses curves seemed to be headed downwards. The decline in the active addresses highlights losing confidence of the investors.
The active addresses reveal the total number of unique users taking part in a transaction in a given period of time. An increased active address indicates a strong demand and the willingness of the investors to buy and vice versa.
Moreover, the transaction volume has dropped by 7.89% a day to $53.23 Million highlighting a drop in demand despite the price rise in intraday. The volume to market cap ratio at 5.3% suggests low volatility.
Is Lido DAO A Sell On Rise For Next Week?
The Lido DAO price seemed to be struggling for a firm establishment near the $1 psychological level. The drop in the transaction volume and active addresses highlight the waning interest of the investors in the short term which may again allow bearish forces to act at the higher levels.
On the higher side, the $1.2 level may act as an immediate resistance and try to halt the further momentum of Lido DAO. The price currently hovers below the all the key exponential moving average indicating a bearishness in the short term as well as long term.
On the lower side, the breakdown of the $1 level could further fuel a bearish trend continuation towards the $0.8 level. However, until the $1 is defended, the bulls may attempt to turn the tables in their favor. The technical indicators leave a bearish note on a combined analysis.
Lido DAO's price has been struggling, experiencing a sharp 38% drop in early August. Currently trading around $1.09 with a slight intraday gain, the price faces challenges due to declining active addresses, indicating waning investor interest. Despite attempts to stabilize above the $1 psychological level, bearish forces seemed to be in domination.
Moreover, the $1.2 level acts as immediate resistance, while a breakdown below $1 could push the price towards $0.8. Technical indicators suggest a bearish outlook in both short and long terms, with declining transaction volumes and active addresses highlighting investor uncertainty.
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