- LDO has shown bullish momentum after clearing a key trendline in April.
- Dual Governance upgrade finalizes all Scorecard items as satisfactory.
Lido DAO (LDO) has broken a major descending resistance trendline, triggering strong bullish momentum. World Of Charts’ recent analysis shows Lido has successfully broken a long-term descending trendline.
The breakout occurred on the 8-hour Binance chart, where the asset is currently trading around $0.97. This resistance had been in place since April, making the move technically significant.
Analysts pointed to visible accumulation and rising volume as evidence supporting the breakout. The chart outlines a projected target of $1.65, which represents a 72% increase from the breakout level. World Of Charts also noted that the bullish structure remains intact, with potential for a 50%+ move in the near term.
Price action continues to support the bullish scenario, with a clean breakout followed by sustained buying pressure. Traders are advised to monitor volume and confirmation signals for follow-through.
Dual Governance Upgrade Completes Lido Scorecard
Lido Finance announced on July 15 that it has finalized its Dual Governance upgrade, completing the final phase of its Scorecard initiative. The update brings all assessment items to either “Okay” or “Good,” according to the latest governance report.
Over the past three years, Lido addressed every item marked as “Needs improvement,” aiming to align more closely with Ethereum’s decentralization principles. The project credited contributors, community members, and LDO holders for helping achieve these goals.
The Dual Governance framework aims to reinforce decentralization, permissionlessness, and resistance to censorship. Lido reaffirmed its focus on building secure and trustless liquid staking solutions for the Ethereum ecosystem.
LDO Price Holds Gains with Bullish Momentum
At the time of writing, Lido DAO (LDO) is trading at $0.9262, marking a 9.86% increase over the past 24 hours. The token has been testing the $0.93 resistance level, with short-term support holding near $0.81.
Analysts suggest that a sustained breakout above $0.93 could trigger further upward movement. The price trend remains bullish, supported by both technical breakout signals and strong volume. If momentum continues, the $1.65 target may be within reach, reinforcing the optimistic technical outlook.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
