• The Lido DAO price has been declining in the past few days, with a 0.15% drop since Sunday.
• A double top pattern suggests that the altcoin may be at risk of a 71% loss to $0.89 if it fails to stay above the $3.11 level.
• Significant support levels are found at $2.68, $2.5, $2.19 and $0.89 – $1.26 for the Lido DAO price to bounce back from losses.

Lido DAO Price Prediction

The crypto market was flashing green at beginning of the New York trading session on Sunday, with most top-cap cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and Cardano (ADA) all showing gains in value according to data from CoinMarketCap. Unfortunately, Lido DAO price was among the top losers with a total drop of 0.15%.

Double Top Pattern Puts LDO At Risk Of 71% Losses

Lido DAO Price started 2021 on a positive note bouncing off the $0.89 support floor to stage a 278% rally to yesterday’s high above $3.4 before being rejected again by this same level as it had earlier in August 2020 leading to a downward spiral in price action which could now form a double top pattern and cause further losses up-to 71%. This gloomy outlook is also supported by the relative strength index (RSI) which is facing down suggesting that sellers have begun returning to the scene; if it continues moving down below 50 line then we can expect bearish pressure on the market from aggressive selling on any rallies towards this resistance level at $3.1 .

Support Levels For LDOs

The first line of defense for LDO is found at 12-day Simple Moving Average (SMA) resting around$ 2.68 while other areas of support are seen at psychological level ($ 2..5 ) embraced by 26-day SMA ,the 50-day SMA ($ 2..19 ) and finally strong buyer congestion zone stretching from ($ 0..89 ) -($ 1..26 ). These areas provide buyers with soft landing spots where they can buy more LDO tokens at lower prices before continuing their uptrend towards higher prices over time .

Conclusion

It appears that there is potential for further losses for LDOs as current market conditions suggest that there may be more downside pressure due to formation of double top pattern , RSI facing downwards and multiple support levels available for buyers . However , if bulls manage to push past these resistances and drive prices upwards then we could see new highs beyond 3 ..11 mark soon enough .