Lido DAO Extends Gains for Seventh Consecutive Day Amid Growing Risk Appetite

Lido DAO (LDO) has been on a tear, extending gains for seven consecutive days and trading around $0.28 on Tuesday.

The liquid staking token's price has increased due to growing risk appetite in the market, with sentiment in the broader crypto space improving marginally as reflected in the Fear & Greed Index at 27 in the Fear Territory.

Retail participation in LDO remains subdued, with an average Open Interest of 145 million LDO over a three-day period, limiting the token's potential recovery.

The MACD buy signal and bullish RSI on the daily chart indicate improving upside momentum for LDO, but the 50-day EMA near $0.29 acts as immediate resistance, with initial support seen at the Parabolic SAR around $0.24.