LDO/USDT daily chartÂ
Lido Dao (LDO) is in a state of decline and the Ethereum staking token is likely to extend losses by nearly 6% to the Fair Value Gap between $1.667 and $1.849. Once LDO sweeps liquidity in the FVG, it could resume its rally towards the upper boundary of another FVG, at $2.309, as seen on the daily chart. This would mark over 30% gains in LDO.Â
The Moving Average Convergence Divergence (MACD) indicator shows red histogram bars below the neutral line, supporting a thesis of downward correction in LDO price.Â
Crypto market capitalization is down nearly 3% on Wednesday, at $2.359 trillion.Â
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