LDO Price Rally: Analyst Sees 1,700% Gain Potential After 94% Crash

Lido DAO's LDO token has been struggling to recover from its nearly 94% decline from its previous all-time high. Analyst Crypto Patel believes that LDO could see a significant rebound, predicting a potential gain of over 1,700%. According to Patel, the token is currently sitting in a high-risk accumulation zone, but its bearish structure remains intact until it reclaim major resistance levels.

The analyst points out that LDO 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.

Crypto Patel's analysis suggests that LDO could potentially reach targets at $1.50, $2.50, and eventually back toward its old cycle high near $4 if ETH climbs back above $3,000.