Bearish storm over Lido DAO – Will $0.88 hold or give way to more losses?

• Lido DAO confirmed robust bearish alerts, and one other 38.3% plunge was seemingly.
• The worth was at a key help that has solely been examined twice in simply over two years — a final stand for bulls?

Lido DAO [LDO] has breached one more help stage. Since falling beneath the 3-month vary in February, LDO has shed 43% in simply over two weeks.

It has fallen beneath the $1 psychological stage and was headed beneath the $0.88 help as properly, which marked the low from September 2024.

Earlier than September, the final time LDO was buying and selling close to $0.9 was in November 2022. Following the FTX implosion, the token fell to a low of $0.872.

As issues stand, LDO might fall properly beneath the $0.88 stage if the present momentum persists.

What are the subsequent targets for Lido DAO?

Supply: LDO/USDT on TradingView

Normally, Fibonacci retracement and extension ranges plotted based mostly on vital swing factors supply view of the place asset costs can go subsequent.

The present worth drop was seemingly not at an finish, which means a swing level won’t have fashioned. Therefore, the November rally was used to plot these ranges.

The worth stalled for a few days on the 78.6% retracement stage. Over the previous two weeks, extra promoting stress meant the 100% stage has been taken out. The following goal was the 23.6% stage at $0.545.

If Lido DAO costs dropped that deep, it could make new multi-year lows. The $0.545 stage lined up roughly with the $0.46 and $0.5 help ranges that LDO bulls defended in June 2022.

Buyers should be cautious. The danger is excessive, however so is the reward. Shopping for LDO at these ranges went towards the development and technical indicators.

The market construction was firmly bearish, and the RSI was in oversold territory. This confirmed vital bearish momentum.

Furthermore, the OBV made new lows alongside the value, signifying heavy promote stress. The downtrend was not assured to halt at $0.88 simply because it has been a major help stage over the previous two years.

Disclaimer: The knowledge introduced doesn’t represent monetary, funding, buying and selling, or different forms of recommendation and is solely the author’s opinion