Analyst Crypto Patel said on August 6 that Lido DAO\u2019s LDO token could recover more than 1,700% after falling nearly 94% from its previous all-time high.<\/p>\n
The market watcher believes LDO is sitting in a high-risk accumulation zone but warned that the token\u2019s bearish structure remains intact until it reclaims major resistance levels.<\/p>\n
Crypto Patel\u2019s analysis on X placed<\/a> LDO inside a long-term demand area after its decline from the previous cycle peak near $4.<\/p>\n \u201cEveryone Forgot About $LDO After A -94% Crash,\u201d he wrote. \u201cThe Long-Term Recovery Potential From Here Could Exceed 1,700%.\u201d<\/p>\n The token is currently trading around $0.29, close to the analyst\u2019s proposed accumulation zone between $0.275 and $0.24.<\/p>\n He said that LDO is still inside a multi-year descending channel, with price action still showing lower highs and lower lows. A weekly close below $0.23 would invalidate the current setup, while a move above $0.47 would be needed to signal a possible trend change.<\/p>\n The token\u2019s recent weakness has been linked to concerns around Ethereum\u2019s proposed EIP-8361. Developer Jerome de Tychey said<\/a> on August 5 that the proposal aims to prevent staking from rising without limits.<\/p>\n Analyst Ted Pillows suggested<\/a> that LDO\u2019s decline was likely connected to fears that lower ETH fstaking rewards could reduce demand for liquid staking tokens such as stETH.<\/p>\n \u201c$LDO is selling off because of concerns around Ethereum\u2019s EIP-8361 proposal,\u201d Pillows wrote on X.<\/p>\n He added that the proposal is still an early draft and has a long process before any possible implementation.<\/p>\n Lido has also had to deal with changing conditions across Ethereum staking. As CryptoPotato<\/em> reported last month, the platform started moving<\/a> around $16 billion worth of staked ETH onto larger post-Pectra validators, with the idea being that Lido\u2019s curated node operators stop running thousands of identical 32 ETH validators and collapse them into fewer, bigger ones.<\/p>\n LDO is currently about 25% above the $0.235 low it hit on June 25, a level that replaced its previous floor and now marks the bottom of its five-year trading history since launching in 2021 at an all-time high near $7.30.<\/p>\n In the last seven days, it has fallen close to 18% and is down roughly 27% over the past two weeks, according to CoinGecko. Furthermore, trading volume sits near $50 million, down 43% from the previous day.<\/p>\n The bullish case hinges on LDO reclaiming $0.47 on a weekly closing basis, a level that flipped from support to resistance after a breakdown in 2024. From there, Crypto Patel maps out targets at $1.50, $2.50, and eventually back toward the token\u2019s old cycle high near $4, the move that would produce the kind of gain he\u2019s describing. He points to Lido\u2019s continued lead in Ethereum liquid staking and the shrinking token supply left to unlock as reasons the setup could work if ETH climbs back above $3,000.<\/p>\n The post Analyst Predicts 1,700% LDO Rally From Long-Term Support<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Analyst Crypto Patel said on August 6 that Lido DAO\u2019s LDO token could recover more than 1,700% after falling nearly 94% from its previous all-time high. The market watcher believes LDO is sitting in a high-risk accumulation zone but warned that the token\u2019s bearish structure remains intact until it reclaims major resistance levels. LDO Tests […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-209856","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/209856"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=209856"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/209856\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=209856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=209856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=209856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Case for a Longer-Term Bottom<\/h2>\n