Cryptocurrencies Price Prediction: Lido DAO, Binance Coin & ApeCoin – European Wrap 16 May

Lido DAO price is about to explode 60% and break above $3

Lido DAO (LDO) price has set the performance bar rather high for itself  this summer. With bulls chasing price action higher on Monday, a rejection occurred as bulls ventured to attack $2.20, where both a pivotal level and the 55-day Simple Moving Average (SMA) are being used by bears as defensive structures. Once that area is reclaimed by bulls this week, expect to see a rally that could go well into the summer and hit $3.37 with a 60% profit in the books.

Lido DAO price is already heading for a very solid performance with a 10% gain already on record for this week. From the looks of it, bulls are back with a vengeance and have already erased all incurred losses for May. If bulls play this right, this could be the best recovery trade of the year, and LDO is set to outperform some peers in the process.

Binance Coin price could crash 25% if BNB bulls rescue plan fails

Binance Coin (BNB) price has been on a tight leash for nearly three months. Although the overall trend might look bullish, there is a slowdown in its ascent. BNB looks primed for a breakout that is favoring bears, but confirmation is critical for traders before taking a decision.

Binance Coin price has been consolidating in a rising wedge pattern since November 2022. This technical formation contains four higher highs and three lower lows formed between November 2022 and May 2023. Connecting these swing points using trend lines reveals a rising wedge setup.

ApeCoin worth $52.7 million and $13.6 million in ImmutableX will soon be unlocked

ApeCoin (APE), 1inch Network (1INCH) and Immutable X (IMX) communities are gearing up for a token unlock event between May 17 and May 20..For APE and IMX, the upcoming unlock events will release more than 1% of the assets’ supply, and this could have a negative effect on prices.

ApeCoin, one of the largest NFT tokens, has a scheduled token unlock on May 17. 15.6 million APE tokens, or 1.6% of the asset’s supply and worth $52.7 million, will be unlocked. APE is trading at $3.39 at the time of writing, after yielding 2.5% gains overnight, as holders gear up for the token unlock.