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Lido DAO surges 21% to a 2 months high amid soaring demand
The cryptocurrency market has been abuzz with the latest developments surrounding Lido DAO, as the asset saw an unprecedented surge of 21.53%, hitting a two-month high of $1.15 before retracing slightly to $1.13. This significant upswing in value is largely attributed to the recent filing by BlackRock to add staking to its Ethereum ETF (ETHA), which has sparked widespread demand for Lido.
As investors flocked to the platform, the altcoin’s market capitalization reclaimed the $1 billion mark, a feat not achieved since April 2025. Concomitantly, trading volume ballooned by an astonishing 219%, reaching $471 million as buyers and sellers scrambled to participate in the frenzied activity.
While this sudden rally has sent Lido enthusiasts into a frenzy, there are indications that profit takers may start to creep in, threatening the upward trajectory of the asset.
A cursory glance at the Relative Strength Index (RSI) reveals an overbought condition, suggesting that some market participants are already taking profits from their positions. This might not be the end of Lido’s rally, though, as both the RSI and DMI indicators are configured to signal a potential continuation of the uptrend.
A key resistance level at $1.4 is now within striking distance if bulls can maintain their momentum. However, should profit takers overwhelm buyers, the asset may retrace back down to the $0.97 support zone, where it found strong demand on previous occasions.
In conclusion, while Lido has been a veritable hot ticket item over the past couple of days, there are signs that this euphoria may be short-lived, depending on how investors choose to respond.
Source: ambcrypto.com
