Lido DAO (LDO) Struggles At $1.8 After Ethereum Merge, What Next?

Lido DAO (LDO) showed so much strength as the price rallied from $0.5 to a region of $3, creating a new all-time high against tether (USDT) ahead of the anticipated “Ethereum Merge.” Lido DAO (LDO) benefited from the relief bounces across the crypto market as it continues to top the chart week in and week out but has since struggled after the merge. (Data from Binance) Related Reading: Valkyrie Crypto Trusts Gather Nearly $74 Million In Funding Amid Bear Market Lido DAO (LDO) Token Price Analysis On The Daily Chart LDO saw a decline in price from $3 to $1.8, setting its price up for a new all-time high despite the difficult market conditions. The price of LDO has since struggled to discover the mojo that helped LDO outperform so many altcoins, as many are confused if it is out of steam. The price of LDO on the daily chart faced resistance at $2.2 as the price got rejected severally. LDO’s price formed a symmetric triangle as the price continued to range with two options available; an uptrend continuation or a break to the downside to test lower support. For LDO’s price to restore its bullish move, the price needs to break out of the triangle and rally to the upside. With good volume, the LDO price would have to break and hold above $2.2, acting as strong resistance preventing the price from the upside. If the price of LDO fails to break to the upside, we would expect the price of LDO to retest the suppo...