Lido DAO’s LDO token traded near $0.42 on February 3, showing slight daily gains amid a prolonged downtrend. Analysts note the token remains trapped in a bearish descending channel on weekly charts, with sellers in control. Key technical indicators like the RSI signal oversold conditions, while holding support above $0.27 is seen as critical to prevent further declines.
On Tuesday, Lido DAO (LDO) traded at $0.4239, a 1.85% increase over 24 hours according to CoinMarketCap data. The token’s weekly performance remained negative, down 17.63%, as bearish momentum dominated the market.
Crypto analyst Marcus Corvinus highlighted that LDO is still within a descending channel on the weekly chart. “Sellers are still in full control of the price direction,” the analysis stated, noting the price was testing the $0.40-$0.45 range.
Data from CoinGlass showed futures market volume rose 6.90% to $113.1 million. Open Interest increased slightly to $48.9 million, with a stable funding rate indicating neutral futures market sentiment.
According to CoinLore data, LDO must hold support at $0.2724 to avoid further sell-offs. A breakout above $0.5546 would target $0.7126, with major resistance expected at $0.9416.
The Relative Strength Index registered at 28.19 on the daily chart, entering oversold territory. The Moving Average Convergence Divergence histogram remained in negative territory, reflecting sustained selling pressure.
