- The LIDO DAO showed a strong weak signal and was likely to have another 38.3% plunge.
- The price was a major support that was tested twice in two years.
LIDO DAO (LDO) violated another level of support. LDO, which fell less than three months in February, accounted for 43%in just two weeks.
It fell below the psychological level of $ 1 and was lower than the $ 0.88 support from September 2024.
Prior to September, LDO traded near $ 0.9 in November 2022, and tokens fell to $ 0.872, following the FTX ruin.
Standing in the situation, LDO can fall below $ 0.88 if the current momentum persists.
What is the next goal of Lido Dao?
Source: TradingView LDO/USDT
In general, the fibonacci returns and expansion levels, based on important swing points, provide a good view of where the asset price can go next.
The price drop is likely to not end, so the swing point may not have been formed. Therefore, the November rally was used to plan this level.
The price was stagnant for several days at 78.6% sponsorship level. In the last two weeks, more than 100% have been turned off due to more sales pressure. The next goal was $ 0.545 to 23.6%.
If the price of LIDO DAO has dropped deeper, there will be a low lowest point of many years. The $ 0.545 level lined up with the level of support of $ 0.46 and $ 0.5 defended by LDO BULLS in June 2022.
Investors must be careful. The risk is high, but the same is true for rewards. Buying LDO at this level violates trends and technical indicators.
The market structure was firmly weak, and the RSI was in the overbeage area. This showed a significant momentum.
Moreover, OBV creates a new lowest level with the price to show heavy sales pressure. The decline has not been stopped at $ 0.88 because it has been a significant support for the past two years.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.