Tuesday, 28 May 2024
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Crypto price predictions: Lido DAO, Rocket Pool, Bitbot

What’s next for Lido DAO price after a 20% surge in a week?

Lido DAO (LDO) and Rocket Pool ETH (RETH) were notable gainers over the weekend. LDO continues to hold onto some of the gains as RETH and Rocket Pool’s RPL slip.

But what’s the price prediction for LDO and RPL as investors take a bullish outlook on new crypto project Bitbot (BITBOT)?

Lido DAO and Rocket Pool ETH led weekend gainers

As analysts at market intelligence platform Santiment noted early Monday, Lido Dao and Rocket Pool ETH topped the list of gainers in the staking sector.

Of 17 assets Santiment tracks, RETH market cap increased 5.9%, while LDO jumped 5.2%. The broader sector’s market cap gained by 5%.

The gains for the staking tokens highlight resilience within the decentralised finance (DeFi) ecosystem, particularly Ethereum staking tokens.

Despite this positive outlook, profit taking and negative sentiment across the market could threaten RPL, LDO and RETH among other staking related tokens.

Lido DAO price prediction

Lido DAO (LDO) trades within the $1.90 and $2.25 price range after recovering from lows of $1.66 reached in mid-April. LDO is also surging against ETH and BTC, with price above the key $2 level.

Currently, LDO is changing hands around $2.13, up by nearly 2.5% as bulls try to hold onto gains made as the token rose to $2.21. Its likely upside continuation will see LDO/USD aim for a retest of the short term hurdle at $2.50.  

The upside has the main resistance around $5 and the all-time high area of $7.30. On the downside, primary support could be around October 2023 lows near $1.40.

Rocket Pool price prediction

The weakness around Ethereum price is observable across most other altcoins as ETH hovers around $3,100. Rocket Pool ETH (RETH) price mirrors this action, while Rocket Pool (RPL) price has dipped more than 5% in the past 24 hours.

RPL is currently trading at $21.05 as the decentralised liquid staking protocol’s native token continues to pare recent gains. The 24-hour trading volume of $5.56 million is 11% higher than a day ago.

However, with price…

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