Lido DAO nears breakout zone as whales back $3.7mln LDO long

Lido DAO [LDO] attracted strong market attention on the 11th of May as broader crypto markets remained subdued.

According to CoinMarketCap, LDO surged over 8.85% in 24 hours and traded near $0.438 at press time.

The rally outperformed major assets like Bitcoin [BTC], Ethereum [ETH], and Solana [SOL], which posted modest gains.

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The gain outpaced major crypto assets like Bitcoin [BTC], Ethereum [ETH], and Solana [SOL], which rose 0.30%, 0.35%, and 1.50%, respectively.

Why are traders turning bullish on LDO?

Not only did the price show strong upward momentum, but traders and investors also appeared highly interested in the trend.

This was reflected in Trading Volume, which surged more than 190% to $120 million during the same period.

In fact, a crypto whale who recently made over $2.27 million from ApeCoin [APE] in a single day opened a 5x long position on 8.69 million LDO tokens.

According to Lookonchain, the position was worth more than $3.72 million. This reflected growing whale conviction in the altcoin.

Source: CoinGlass

However, some investors appeared to take profits as the price approached a key level.

Data from CoinGlass revealed that exchanges recorded $899.72K worth of LDO Inflows during the same period. This suggested that some holders may have prepared for a potential selloff as tokens moved to exchanges.

Are large holders still accumulating LDO?

Source: Nansen

On the other hand, the top 100 LDO addresses continued adding tokens to their holdings, according to Nansen.

Data showed that over the past seven days, the top 100 LDO addresses increased holdings by 1.26%.

Meanwhile, exchange reserves declined by 0.98% during the same period. This suggested that large holders continued accumulating LDO while exchange supply declined.

In addition, intraday traders appeared to follow the same trend.

CoinGlass showed that $0.42 on the downside and $0.446 on the upside were major Liquidation Levels. These were the levels where traders appeared heavily over-leveraged.

At those levels, traders built $1.66 million worth of long positions and $445K worth of short positions. This indicated that traders expected LDO’s price to maintain its upward momentum.

Can LDO break above $0.45?

Source: TradingView

Despite these bullish signals, LDO’s daily chart on TradingView told a different story.

According to the chart, the asset approached a key resistance level at $0.45, which remained intact since the 2nd of February, 2026.

In the past two instances, whenever LDO approached this level, it faced strong selling pressure. That resulted in declines on the 17th and 27th of April, 2026.

Based on the current price action, if LDO breaks above this prolonged resistance, it could witness a 32% rally toward $0.6160.

However, LDO needs to close a daily candle above the $0.4550 level for confirmation.

On the other hand, the formation of a red candle near this level could attract sellers and trigger another decline.

Meanwhile, the Average Directional Index [ADX] reached 33.88, remaining well above the key threshold of 25. This indicated that LDO remained in a strong directional trend.

Final Summary

• Lido DAO [LDO] outperformed major cryptocurrencies after gaining more than 8.85% in 24 hours.
• A whale opened a $3.72 million leveraged long position on LDO, signaling growing confidence in the asset.