The Lido DAO token LDO showed significant strength on May 11. While the overall crypto market saw limited gains, LDO rose over 8% in 24 hours, briefly reaching around $0.438, outperforming BTC, ETH, and SOL.
Market activity also increased simultaneously. CoinMarketCap data shows that LDO trading volume increased by more than 190% during the same period, rising to approximately $120 million, indicating a significant return of short-term funds.
Whales leveraged long positions
According to Lookonchain, an on-chain monitoring account, a whale that previously profited from ApeCoin trading has opened a new long position in LDO with 5x leverage, involving 8.69 million tokens, with a position value of approximately $3.72 million.
This position has brought the market closer to the short-term trend of LDO. Meanwhile, CoinGlass data shows that the main liquidation range for LDO is around $0.42 below and $0.446 above, indicating that these two levels have seen a significant concentration of highly leveraged positions.
- The area around $0.42 corresponds to liquidation pressure for long positions.
- The area around $0.446 corresponds to short position liquidation pressure.
- Long positions totaled approximately $1.66 million, exceeding short positions of $445,000.
Major investors continue to increase their holdings.
Nansen data shows that LDO holdings by the top 100 addresses increased by 1.26% over the past 7 days. During the same period, exchange reserves decreased by 0.98%, indicating that some tokens were transferred out of trading platforms, and the selling pressure in the market has contracted.
However, CoinGlass data also shows that exchanges recorded approximately $899,700 in LDO inflows during the same period. This indicates that as the price approached a key level, some holders still chose to transfer their holdings to exchanges, preparing to realize profits.
$0.45 becomes a resistance level
From a daily chart perspective, the area around $0.45 remains the most important resistance level for LDO. This level has not been effectively broken since early February 2026, and it encountered selling pressure and fell back after two attempts to break through it in mid-to-late April.
If the price can rise above $0.455 and confirm this with a daily close, market focus may shift to higher levels. Based on the technical range cited in the original text, the upside target could be around $0.616.
However, if the price falls back again around $0.45, selling pressure may intensify again. Meanwhile, the ADX indicator has risen to 33.88, above 25, indicating that the current market is still in a relatively strong directional trend.
