After peaking at $4 in the second week of January 2024, the LDO has consistently declined below over the last seven months. It had lost its value by more than 70% from the swing high of $4.043. This displayed a strong bearish behavior in the token price and sellers' dominance, which led to its 2023 demand zone.
The following deteriorating behavior of the token has led to the formation of a falling wedge pattern. In order to see a reversal in price, the LDO token price will need to break above the wedge pattern with strong momentum or the Change of Character (CHOCH) above the $2.0 mark.
Following the recent surge, the 20-day EMA has been pierced, but 50-day and 200-day EMA hurdles still loom. A glance at the chart showed that the price of LDO traded in a death cross since the second quarter of 2024.
At press, other indicators are bullish with recent charge optimism. The MACD had a bullish cross, and the RSI had pierced the median line at 55.04.
Based on further continuation in bullishness, the resistance levels of $2.0 and $2.7 must need to be monitored. On the contrary, if the price fails to rise more, then the $1.0 mark needs strong protection by the bulls.
The following deteriorating behavior of the token has led to the formation of a falling wedge pattern. In order to see a reversal in price, the LDO token price will need to break above the wedge pattern with strong momentum or the Change of Character (CHOCH) above the $2.0 mark.
Following the recent surge, the 20-day EMA has been pierced, but 50-day and 200-day EMA hurdles still loom. A glance at the chart showed that the price of LDO traded in a death cross since the second quarter of 2024.
At press, other indicators are bullish with recent charge optimism. The MACD had a bullish cross, and the RSI had pierced the median line at 55.04.
Based on further continuation in bullishness, the resistance levels of $2.0 and $2.7 must need to be monitored. On the contrary, if the price fails to rise more, then the $1.0 mark needs strong protection by the bulls.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.