CandleFocus

LDO Price Recovery May Gain Momentum Post Prolonged Consolidation

The Lido Dao (LDO) price has been experiencing strong selling pressure, resulting in a decline and the loss of crucial support levels. The price has been in a consolidation phase for the past three months. However, technical indicators suggest a potential bullish forecast, with the potential for a 30% rebound in the next few days. The price is currently trading at $1.15, with a market capitalization of $1.03 billion and a 24-hour trading volume of $40.11 million. The price has formed an inverted head and shoulder pattern and may extend to the 200-day exponential moving average if buyers show interest. However, a slip below the 20-day EMA could be a selling signal, potentially leading to massive selling if the $1 support level is breached. Technical indicators such as RSI and MACD are showing bullish signs, but monitoring the support levels is crucial in determining the future direction of the price.

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