Lido DAO (LDO) is one of the first cryptocurrencies I think is undervalued and has risen the least in the market. There are several reasons for this. First, I don't think the #Ethereum ecosystem has been valued enough yet. Projects like Lido (LDO) will receive the necessary attention when the money flow shifts to the Ethereum ecosystem. When we examine the graph below, we can see how much Lido is trading below its value. The #LDO price is at the same level as in February 2023. While the cryptocurrency ecosystem has seen significant growth over the last year, the LDO price has not increased in the past year.
When Will Lido DAO Start to Rise?
The descending wedge formation occurs as a result of the price moving within an increasingly narrowing area and breaking upwards at a certain point. This formation is a bullish formation. It indicates that the phase of price decline has ended and an upward trend is about to begin.
The reason I described the descending wedge formation is because this formation can be seen in the LDOBTC chart. This formation indicates that LDO should soon gain strength against #Bitcoin and show a significant rise.
