💧 #LDO has hit rock bottom
Lido is the biggest project in the DeFi sphere. It is a liquid Ethereum 🔹 steaking.
Like the blockchain of ether itself, projects on it have been feeling underwhelmed lately. Since 2023, the price has been declining within a "descending price channel" 📉.
Recently, there has been liquidity withdrawal under the global support level of ~$0.89. Also at this point a "bullish divergence" was formed on the RSI indicator.
Based on the current picture, we should expect a gradual recovery. The main targets: the level of ~$0.89 and the upper boundary of the 🎯 channel.