The market is at a pivotal crossroads for Lido DAO (LDO). We are currently witnessing a high-stakes battle between a long-term descending channel and a rock-solid demand zone. Here’s the breakdown of why this setup is sparking interest:
🔍 Technical Breakdown
Price Action: $LDO is currently oscillating within a descending channel on the hourly timeframe. We’ve hit the lower boundary, signaling that the current sell-off might be overextended.
The Demand Zone: All eyes are on the 0.3217 support level (highlighted in green). History shows the bulls have defended this level multiple times—expecting another strong bounce here! 🛡️
RSI Momentum: The Relative Strength Index is dipping toward oversold territory. We are anticipating an upward curve as buying pressure begins to outweigh the selling exhaustion.
Moving Averages: Price is consolidating just above the 100-period MA, providing a structural floor for the next leg up.
🎯 Trade Setup
If the support holds, we are looking at a clear path toward the upper channel boundary:
Entry Price: 0.3264 🟢
Target 1: 0.3341 (Short-term relief)
Target 2: 0.3481 (Mid-channel resistance)
Target 3: 0.3600 (Major breakout target) 🚀
Stop Loss: Just below the 0.3217 support zone.
⚠️ Pro Tip: Never underestimate Money Management. Protect your capital, use appropriate leverage, and stay disciplined. 💼
What’s your take on LDO? Are we heading for a breakout or a breakdown? Let me know in the comments! 👇
