The Overall Market Trend is Bullish

Lido (LDO) shows a bullish trend in the weekly timeframe, moving within an ascending channel towards the main target. However, significant resistance points, including a minor channel and an orange support zone, may temporarily halt further growth.

3/14/20241 min read

Weekly chart of Lido (LDO) depicting bullish trend within ascending channel. Price currently within
Weekly chart of Lido (LDO) depicting bullish trend within ascending channel. Price currently within

In the weekly timeframe for Lido (LDO), we observe that the overall market trend is bullish. This trend is identified by noting that the lows are higher than the previous lows, and the highs are higher than the previous highs. The price is moving within an ascending channel and is heading towards the main target, which is the top of the main channel.
There are significant resistance points along the price's growth path, including a minor channel and a orange support zone. Currently, the price is within this orange area, and we do not expect further growth until the price stabilizes above this region. If the price drops below the bottom of the minor channel, the bullish trend may pause for a while.