Technical analysis by Lamassu_Trade about Symbol LDO: Buy recommendation (11/18/2024)

LDO/USDT Technical Analysis:LDO (Lido DAO) has initiated its upward movement, showing promising momentum. Here's a breakdown of the current setup:Support Zone (Green): The range around $0.87–$1.10 provided a strong base for LDO, which has successfully bounced from this area. This zone remains critical for maintaining bullish momentum.Pivot Zone (Blue): LDO is now retesting the $1.35–$1.50 pivot area. Flipping this level into support will be a crucial step for further continuation. A sustained move above this zone could trigger stronger bullish momentum.Dynamic Resistance: The descending trendline that has acted as resistance in recent months has been broken. This breakout indicates a potential shift in trend and opens the path for upward movement.First Resistance (Red): The next major resistance is in the $2.00–$2.20 range, representing a key level to watch for further confirmation of the bullish trend.Major Resistance Zone: Beyond $2.20, the next target lies in the $3.50–$3.75 zone, aligning with previous highs. Breaking this area would signal a strong recovery and possible long-term bullish sentiment.Conclusion:LDO has started its move upward with strong momentum after breaking its descending trendline. The immediate focus is on reclaiming the pivot zone ($1.35–$1.50) as support. If this level holds, LDO could target the $2.00 and $3.50 resistance levels in the medium term.Disclaimer: This analysis is for educational purposes only. Trading involves significant risks, and any investment decisions should be made independently with proper risk management.