Lido DAO ($LDO ) Price Analysis
Lido DAO is a liquidity staking solution for Ethereum that attracted huge attention during the Ethereum merger. Since then, the native token LDO has also maintained a good trend, which was further intensified when the market turned bullish in the last few weeks of 2023. After a hard fight with the bears, the LDO price has successfully broken through the key "trend reversal" area and is expected to break through the descending resistance zone in the coming days.
The bullish momentum is accumulating in the LDO price rise as the coin refuses to cut the support level. Driven by a huge bullish line (indicating huge support from buyers), the price broke through one of the key resistance levels of $2.17 and is about to test the next resistance level of $2.63.
At the same time, the OBV or on-balance volume rebounded and headed towards the upper limit, indicating that a new round of bullish momentum is about to start. Therefore, the Lido DAO price may touch the upper resistance level of the triangle, but the ETH price must rise sharply.
Ethereum Name Service ($ENS) Price Analysis
The Ethereum Name Service, a distributed, open, and scalable naming system on Ethereum, has surged more than 15% since early trading. The platform has seen a notable increase in trading volume of more than 40%, breaking through the interim resistance level of $25.14.
Now that ENS price is just 10% away from forming a new yearly high, another bullish push could push the price above $30.
Since the beginning of the year, ENS price has been struggling to break above the critical resistance zone between $27.61 and $29.18. Unfortunately, this move always resulted in rejection and a sharp pullback. The price is about to enter the zone again, but the technicals do not support a breakout. The RSI is very close to the upper boundary, while the DMI is giving a bearish signal.
Therefore, ENS price is expected to make a small increase and enter the resistance zone, but it may again fail to sustain, triggering a pullback and may eventually enter a long consolidation below $25. This trend is expected to change only if the overall market sentiment turns bullish or the Ethereum price does not reach $4,000.
