Lido Finance LDO price ready to growth again ?

7 Okt 2022

Previously, Lido Finance ranked a net second in terms of pledged capital, behind only MakerDAO
Today, we can say that Curve Finance has caught up with Lido Finance in terms of TVL, which hovers around $6 billion.

By the way, exactly a month ago we made an idea for CRVUSDT and now, in our opinion, the price is just in the purchase zone:

The Lido team scratched their heads and yesterday released two positive tweets about the changes:
1. Since October 7, they have provided users with the ability to connect a wrapped stETH token - wstETH - to the Arbitrum and Optimism networks for liquid staking. It is assumed that this version of the asset will facilitate its use in various DeFi protocols.
2. Lido Finance also announced the allocation of 150,000 LDO per month as rewards for the use of wstETH across all networks. This is done in order to stimulate the mining of liquidity of the reversible token in each of the DeFi partners like Balancer, Curve Finance and Kyber Network.

In turn, the LDOUSDT price forms a descending wedge pattern on the chart. This pattern usually serves as a continuation of the growth trend, which, as can be seen from the chart, has been going on since June 2022 from the price of $0.40 per LDO.

Based on the above, we get a good entry point to try a medium-term trade on the following conditions:
Enter long position $1.44-1.48
Stop loss below $1.285 (-12%)
Take profit $2.205 (+51%)
Profit loss ratio 4/1
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