Lido DAO added 141 new wallets in a day as LDO jumped 21% in 48 hours, with RSI near 69 and MACD signaling bullish momentum.
Lido DAO network has lately accelerated alongside price. New wallet creation has climbed to multi-month highs, pointing to stronger user activity and broader participation across the network.
That type of growth often supports short-term momentum, especially when rising activity aligns with expanding demand.
With 141 new wallets created in one day and LDO up 21% in 48 hours, user growth is starting to validate the latest price action, though any slowdown in activity could weaken that momentum.
Wallet Growth Begins to Back LDO’s Price Strength
Analyst CryptoBusy pointed to the recent move as wallet creation climbed to multi-month highs, suggesting that more participants entered the network during the rally.
In crypto markets, rising wallet activity often helps support short-term price strength.
As more users join the network, demand tends to broaden, giving rallies a stronger foundation.
That is why traders are paying close attention to this metric during LDO’s latest move.
Recent on-chain data is starting to validate LDO’s price action. Even so, sustained growth will be important in the sessions ahead.
If wallet creation slows, the current rally could begin to lose support.
LDO Recovery Builds Momentum on the Daily Chart
LDO has rebounded from the low-$0.30 range and is now trading near $0.39, improving short-term market sentiment.
Even so, the broader daily chart still points to a weak overall structure.
The token remains well below earlier trading zones between $0.60 and $1.20, while the chart continues to reflect a longer-term pattern of lower highs and lower lows.
For now, the latest advance still looks more like an early recovery attempt than a confirmed trend reversal.
Momentum indicators have strengthened during the bounce. The RSI has climbed to around 69.45, signaling firm buying pressure, although it is also nearing overbought territory.
LDO rebounds as momentum strengthens; source: TradingView data.The MACD has also flashed a bullish crossover, with the histogram turning positive.
That setup often supports a short-term recovery phase, but on its own it does not confirm a full trend change.
The first support zone lies around $0.37 to $0.38, which aligns with the recent breakout area on the daily chart. If price holds there, buyers may remain active in the near term.
Below that, the next support range comes in at $0.32 to $0.34. A deeper pullback could expose the $0.27 to $0.30 zone, where the latest rally may begin to lose strength.
On the upside, traders are watching $0.40 to $0.42 as the first key resistance area.
A break above that range would improve the short-term outlook, with the next target likely shifting to the $0.45 to $0.50 zone.
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New Wallet Creation Reaches a Two-Month High
According to on-chain analytics platform Santiment, Lido DAO recorded 141 new wallets in a single day, marking its strongest daily network growth in the past two months.
The spike points to a clear increase in user activity during the recent market move.
At the same time, LDO rose roughly 21% over the last 48 hours. The jump in new wallets came alongside that price gain, leading market participants to connect stronger network growth with the latest rally.
When user participation expands alongside price, new wallet growth can help reinforce short-term momentum.
In LDO’s case, the on-chain data adds weight to the recent move. Even so, traders will be watching closely to see whether this growth can continue in the sessions ahead.
Source: https://www.livebitcoinnews.com/lido-dao-wallets-growth-hits-multi-month-highs-is-another-ldo-price-breakout-coming/
