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In this analysis, I’m going to review the LDO coin — one of the well-known DeFi projects within the Ethereum ecosystem with a significantly high TVL.
✔️ This project’s token currently has a market cap of $748 million, placing it at rank 86 on CoinMarketCap.
⏳ 4-Hour Timeframe
As you can see on the 4-hour chart, after a downtrend, LDO formed a bottom around the 0.676 zone and managed to rally up to 0.868.
🔍 Currently, the price is consolidating below that resistance in a ranging box. A breakout from either direction of the box could determine the next trend.
⭐ If the box breaks upward and the 0.868 level is breached, we can consider the prior downtrend over, and the price would be forming a new bullish structure. However, there is another resistance at 0.904 right above, and there’s a possibility of rejection from that level after the 0.868 breakout.
📈 For a long position, I personally plan to enter upon the breakout of 0.868. While it’s possible that the price might reverse from 0.904, I prefer having an earlier entry and using a more accessible trigger.
🔽 On the other hand, if the box breaks to the downside, the price might revisit the 0.676 support and potentially start a new bearish leg in line with the longer-term downtrend.
📉 The first short trigger is the break of 0.818 (the lower boundary of the box), but there’s another minor support at 0.795, which may cause a bounce.
👀 I personally prefer to wait for the 0.795 level to break for a short entry, given that market momentum is currently bullish, and I prefer a more reliable trigger for shorts.
📊 Volume within this range has been decreasing, which is normal in such consolidation phases. The longer the price stays in this range, the lower the volume tends to be — and typically, a breakout will lead to a sharper move.
The RSI oscillator also has a support zone at 43.17. If this level is broken, it could signal incoming bearish momentum and increase the probability of a downside breakout.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’m going to review the LDO coin — one of the well-known DeFi projects within the Ethereum ecosystem with a significantly high TVL.
✔️ This project’s token currently has a market cap of $748 million, placing it at rank 86 on CoinMarketCap.
⏳ 4-Hour Timeframe
As you can see on the 4-hour chart, after a downtrend, LDO formed a bottom around the 0.676 zone and managed to rally up to 0.868.
🔍 Currently, the price is consolidating below that resistance in a ranging box. A breakout from either direction of the box could determine the next trend.
⭐ If the box breaks upward and the 0.868 level is breached, we can consider the prior downtrend over, and the price would be forming a new bullish structure. However, there is another resistance at 0.904 right above, and there’s a possibility of rejection from that level after the 0.868 breakout.
📈 For a long position, I personally plan to enter upon the breakout of 0.868. While it’s possible that the price might reverse from 0.904, I prefer having an earlier entry and using a more accessible trigger.
🔽 On the other hand, if the box breaks to the downside, the price might revisit the 0.676 support and potentially start a new bearish leg in line with the longer-term downtrend.
📉 The first short trigger is the break of 0.818 (the lower boundary of the box), but there’s another minor support at 0.795, which may cause a bounce.
👀 I personally prefer to wait for the 0.795 level to break for a short entry, given that market momentum is currently bullish, and I prefer a more reliable trigger for shorts.
📊 Volume within this range has been decreasing, which is normal in such consolidation phases. The longer the price stays in this range, the lower the volume tends to be — and typically, a breakout will lead to a sharper move.
The RSI oscillator also has a support zone at 43.17. If this level is broken, it could signal incoming bearish momentum and increase the probability of a downside breakout.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.