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LIDO DAO PRICE ANALYSIS & PREDICTION (April 7) – LDO Crashes Near $0.7 After Major Daily Loss, Looks Highly Bearish
The market has taken a drastic turn for the worst, with most altcoins, including Lido DAO (LDO), plummeting in value. In fact, LDO has experienced a major daily loss, and its price is now hovering near $0.7, a level that could lead to further decline.
As expected, following Bitcoin’s recent drop, most altcoins have followed suit. This bearish sentiment seems to be intensifying, leaving investors worried about the future prospects of the market. In particular, LDO has been on a downward spiral since January, with its price forming a double-top pattern at $2.5 late in the month. Since then, the asset has struggled to regain momentum.
Despite some brief attempts to recover earlier this year, LDO’s price found support above $0.8, but was quickly pulled back down by bears. The cryptocurrency then lost steam and resumed its downtrend, resulting in a bearish crossover. This trend continues today as sellers drive the price lower, with little sign of relief in sight.
In light of these developments, it is not unexpected that LDO’s price is now near $0.7, raising concerns about where this downward trajectory may stop. With no clear support levels to guide us on a potential bounce, the bearish trend may continue for a while longer. Some possible key support levels to watch include $0.6 and $0.5.
On the flip side, if LDO manages to find some upward momentum, there are also key resistance levels to consider. These would be at $0.815, $0.92, and finally, $1.05.
Source: https://nulltx.com/lido-dao-price-analysis-prediction-april-7-ldo-crashes-near-0-7-after-major-daily-loss-looks-highly-bearish/
