Lido DAO's LDO Token Awaits Breakout as Analyst Sees 1700% Rally Potential

Lido DAO's LDO token has plummeted nearly 94% from its previous all-time high near $4. Analyst Crypto Patel believes that if the token can reclaim major resistance levels, it could recover more than 1,700%. He notes that LDO remains trapped in a multi-year downtrend, with analysts watching $0.47 as the level needed for a possible reversal.

Crypto Patel's analysis suggests that LDO is sitting in a high-risk accumulation zone but warned that the token's bearish structure remains intact until it reclaims major resistance levels. The token is currently trading around $0.29, close to the analyst's proposed accumulation zone between $0.275 and $0.24.

However, concerns around Ethereum's proposed EIP-8361 have contributed to LDO's recent weakness. Developer Jerome de Tychey said that the proposal aims to prevent staking from rising without limits, while analyst Ted Pillows linked LDO's decline to fears that lower ETH fstaking rewards could reduce demand for liquid staking tokens such as stETH.