The price of $LDO needs to establish itself above support.

The price of LDO has risen by 68% over the past week and is trading just below resistance at $1.56. The upcoming update for token holders has created strong bullish sentiment. However, for LDO to maintain its position, it needs to break through the resistance at $1.56. A successful breakout above this level could push LDO to the next resistance at $1.82.

A breakout at $1.56 is quite possible due to the increase in new addresses and the excitement surrounding the Tokenholder Update. If the momentum continues, LDO could reach a significant mark of $2.00. However, if investors decide to take profits after the recent rise, LDO may pull back. A drop below $1.34 could signal a trend reversal, with a potential decline to $1.18 or lower. In this case, the bullish scenario would be invalidated.$LA $C