LDO Chart Analysis: Consolidation or Correction? 🤯

#LDO took a sharp turn lower after a brief consolidation phase. Looking at the bigger picture, the price is currently stuck between a major support zone of $1.61 - $1.69 and a major resistance zone of $2.62 - $2.69.

While the price is nearing an intermediate support level, a significant bounce might not be imminent.

Here's a breakdown of the key points:

Sharp Drop: $LDO experienced a notable price decline following a short consolidation period.

Support & Resistance Zones: The price is currently hovering near a major support area ($1.61 - $1.69) with resistance looming above ($2.62 - $2.69).

Intermediate Support Caution: While nearing an intermediate support level, a substantial price increase might not be guaranteed.👊

What to Consider:

Wait for Confirmation: It might be prudent to wait for the price action to develop further before making any investment decisions. Ideally, a clear break above the intermediate support or a retest of the major support zone would provide more clarity.

Will #Lido Pump Soon??