Analyst Predicts 1,700% LDO Rally From Long-Term Support

LDO remains trapped in a multi-year downtrend, with analysts watching $0.47 as the level needed for a possible reversal. Analyst Crypto Patel said on August 6 that Lido DAO’s LDO token could recover more than 1,700% after falling nearly 94% from its previous all-time high. The market watcher believes 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. LDO Tests Multi-Year Support After Heavy Sell-Off Crypto Patel’s analysis on X placed LDO inside a long-term demand area after its decline from the previous cycle peak near $4. “Everyone Forgot About $LDO After A -94% Crash,” he wrote. “The Long-Term Recovery Potential From Here Could Exceed 1,700%.” The token is currently trading around $0.29, close to the analyst’s proposed accumulation zone between $0.275 and $0.24. He said that LDO is still inside a multi-year descending channel, with price action still 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 token’s recent weakness has been linked to concerns ar...