- Lido DAO records a 2.8% daily gain despite weekly losses.
- Trading activity drops sharply, but investor confidence improves.
- Lido adopts Chainlink’s CCIP for wstETH cross-chain security.
- Bearish signals dominate, but indicators hint at possible stabilization.
Lido DAO (LDO) shows a slight recovery trend as it continues its positive price trajectory. In the past 24 hours, LDO has gained nearly 2.8%, suggesting modest buying interest following recent declines. However, the weekly chart still reflects a 15.37% drop, indicating that bearish pressure persists even as short-term momentum strengthens.
At the time of writing, LDO is trading at $0.7522 with a 24-hour trading volume of $60.64 million, down 49.19% from the previous day. The market capitalization stands at $673.95 million, up 2.59%, suggesting that investor confidence is gradually improving despite lower trading activity.
Also Read: Lido DAO (LDO) Price Shows Momentum Toward $3.80 Mark
Lido Upgrades to Chainlink CCIP for wstETH Security
Lido, one of the largest DeFi protocols with over $28 billion in TVL, is upgrading to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the official cross-chain infrastructure for Wrapped Staked Ether (wstETH). The upgrade secures all wstETH transfers via the Cross-Chain Token (CCT) standard and expands support across 16 existing and new networks, including Plasma and Ronin.
Based on Lido’s previous implementation of Chainlink’s data feeds and Direct Staking infrastructure, this partnership will allow Lido to enhance its secure and composable asset, wstETH, by adopting the interoperability standards provided by CCIP, which is widely trusted and used by financial institutions. With this upgrade, there will be more opportunities for DeFi and wstETH users in a multi-chain environment.
LDO Technical Analysis Points to Gradual Stabilization
From a technical standpoint, LDO is still facing weakness on its daily chart. Also, LDO is trading below all major MAs, namely the 20-day, 50-day, 100-day, and 200-day SMA, and is currently ranging between $0.87 and $1.12. The immediate resistance sits at $0.80, keeping price movement restricted within a tight range.
The Relative Strength Index (RSI) is at 36.80, and this shows that the market is still dominated by seller activity, though breaks above 40 may usher in a mild recovery trend. Looking at MACD, slowing bearish signals are observed, as indicated by diminishing red bars that may usher in a consolidation phase.
If buying gains strength, breaking through $0.80 may propel LDO towards $0.87 and possibly its target at $1.12. On the downside, levels of $0.74 and $0.70 remain significant support points that, if broken, could lead to more declines, and, on the other hand, a breakout above resistance may initiate the next recovery phase for Lido DAO.
Also Read: Next-Level ETH Staking: Lido Expands to Linea with Chainlink CCIP
