Despite the current market-wide correction, Lido DAO (LDO) has shown remarkable resilience, recording an 11.6% price increase over the past 14 days. This surge has outperformed both Bitcoin (BTC) and Ethereum (ETH), making LDO a notable exception in an otherwise bearish market. However, technical analysis suggests that bear pressure is rising, and the token's Relative Strength Index (RSI) indicates a potential downturn.

Lido DAO's price chart on Trading View reveals a market sentiment rating of 37% and a Fear & Greed Index of 55 (Greed). The longs/shorts ratio is balanced, with 50.33% long positions and 49.67% short positions over the past 24 hours, as bulls attempt to defend the $1.80 level. Short-term price predictions for 2024 estimate a range between $3.24 and $4.40, with a potential high of $7.29. Long-term prospects appear optimistic, with projections suggesting significant price potential by 2030, ranging from a minimum of $1,496 to a maximum of $1,810, with an average trading price forecasted around $1,578.

Recent developments have contributed to Lido DAO's price surge, including the integration of Kusama liquid staking on the Lido platform and the record high Total Value Locked (TVL) of $16.08 billion. However, the broader market correction has triggered widespread panic selling and investor fear, impacting many cryptocurrencies, including LDO. At the time of writing, Lido DAO is priced at $2.15, with a market capitalization of approximately $1.9 billion and a 24-hour trading volume of $118 million.

The SEC's recent closure of its Ethereum 2.0 investigation without filing charges has generated optimism among investors and analysts, potentially opening the door for the approval of Ether spot ETFs. This development could propel Ethereum to new all-time highs, with some forecasters targeting $5,000. Other Ethereum-related projects, including Lido DAO's governance token LDO, Ethereum Name Service (ENS), and Maker (MKR), have also recorded decent gains in recent weeks. The SEC's indication that it views ETH as a commodity rather than a security is pivotal for fostering the growth and adoption of cryptocurrencies by establishing a more predictable regulatory landscape.