Bulls Can Enter Lido at These Levels: Price Action Analysis

• Lido DAO token has traded between the $1.57 and $2.56 levels with a mid-range at $2.07 since May.
• On-chain metrics suggested an onset of steady selling pressure was imminent.
• Bulls can wait for a lower timeframe bullish structure break before entering, but must manage their position sizes and risk carefully.

Lido DAO Price Action

The price action of Lido DAO has been relatively lukewarm in the past month, losing close to 26% from its high of $2.49. However, there is still potential for the bulls to reverse these losses if they enter in the range of $1.6-$1.8 region. The three-month range formation indicates that there is currently no long-term trend for LDO prices.

Price Targets

Bulls can consider a flip of the most recent lower high (at $1.94) to support as evidence that price action is becoming more bullish again. On the downside, buyers should be aware of the 15% drop between current levels ($1.84) and range lows ($1.56).

On-Chain Metrics

On-chain metrics suggest that there could be an upcoming wave of selling pressure on LDO tokens soon as indicated by a decrease in 90-day mean coin age and increasing supply on exchanges over time indicating accumulation has yet to occur based on OBV readings .

Risk Management

Buyers should be mindful of their position size and risk when entering into this market due to the large drop potential between current levels and range lows ($15%). They may want to wait for a lower timeframe bullish structure break before entering such positions as well as monitor on chain metrics closely for any signs of upcoming dumping activity which could negatively impact prices further .

Conclusion

Given current conditions, there are opportunities for bulls to enter into this market if they manage their risk appropriately and monitor on chain metrics closely for any changes in sentiment or activity related to LDO tokens .