LDO Poised for 1,700% Rally as Analyst Sees Potential Long-Term Bottom
Crypto analyst Crypto Patel believes Lido DAO's LDO token has significant long-term recovery potential, predicting it could surge over 1,700% from its current price. The token is currently trading around $0.29 and has fallen nearly 94% from its previous all-time high.
The market watcher thinks LDO is sitting in a high-risk accumulation zone but warns that the token's bearish structure remains intact until it reclaims major resistance levels. Patel notes that the token is still inside a multi-year descending channel, with price action showing lower highs and lower lows.
A weekly close below $0.23 would invalidate the current setup, while a move above $0.47 would be needed to signal a possible trend change. The analyst points out that LDO's recent weakness has been linked to concerns around Ethereum's proposed EIP-8361, which aims to prevent staking from rising without limits.
Crypto Patel believes the case for a longer-term bottom in LDO is strong, citing its continued lead in Ethereum liquid staking and the shrinking token supply left to unlock. He maps out targets at $1.50, $2.50, and eventually back toward the token's old cycle high near $4, which would require ETH to climb above $3,000.