Lido DAO Shows Strength To Breakout; Will The Downtrend Line Be Invalidated?

LDO price shows strength for the first time after post-merge. LDO bounces from the downtrend, hoping to end its bearish run as the price eyes a possible breakout from the downtrend line. The price of LDO shows bullish signs as price trades below 50 and 200 Exponential Moving Averages (EMA) with good volume. The price of Lido DAO (LDO) has been one of the best performances before the “Ethereum Merge,” outperforming the market as the price rallied to an all-time high of $3 against tether (USDT). Although the crypto market faced a new drawback as Bitcoin (BTC) price dropped from a region of $19,000 to $18,100 as the Consumer Price Index (CPI) suggests an increase in inflation affecting the price of BTC negatively with altcoins affected, with recovery from BTC altcoins like Lido DAO showed some strength as the aim to begin a rally. (Data from Binance) Related Reading: Quant (QNT) Holds Gains When Top Cryptos Plummet Following BTC Lido DAO (LDO) Price Analysis On The Weekly Chart Although the crypto market experienced a sharp decline due to the CPI news, the market appeared to be manipulated as Bitcoin’s (BTC) price dropped from $19,200 to $18,200 in hours. The market quickly recovered as most altcoins began to show strength, with LDO looking to breakout of its downtrend that has made the price become crippled to rally. With the current rise in the value of Bitcoin Dominance (BTC.D) after a long while, it is still...