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Attention LDO holders! Now might be the time to rethink your trading strategy

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LDO’s price rallied by over 75% in the last week As investors seek out profit, the bears might be getting ready for a re-entry. Lido Finance’s governance token LDO, saw a significant increase in price of 78% in the past week. This made LDO one of the top-performing cryptocurrency assets in terms of gains over […]

Still on an uptrend at press time, LDO’s price was up by 29% in the last 24 hours. In the same time period, LDO tokens worth $274 million were traded. This led to a significant increase in the daily trading volume of over 500%With the Market Value to Realized Value ratio of 150.51% at press time, LDO was overvalued. Its market value was significantly higher than the realized value .

Over the last nine days, key momentum indicators rose steadily to rest at overbought highs at press time. LDO’s Relative Strength Index and Money Flow Index were spotted at 77.96 and 93.37 at press time. At overbought highs, buyers in the market are typically exhausted and are unable to initiate any further price rally. Hence, a drawback in LDO’s price might be on the horizon in the coming days.

 

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