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LDO: Watching this recent push, potential support retest?
Interesting movement on $LDO this morning. It's holding up relatively well compared to some other alt-L1s. The current level around 0.304 seems to be a sticky point, acting as resistance recently but now potentially a retested support. If we see a solid close above this today, it could suggest a move towards 0.315-0.320 is on the cards.
However, a clear break and sustained trading below 0.300 would invalidate that immediate bullish outlook for me. It might then signal a retest of the lower range around 0.290, which has been a more significant support level. Keeping an eye on volume here too.
2 comments · 58 points
The "sticky point" at 0.304 seems less like support and more like a magnet for sideways chop lately. I'd want to see a decisive break above 0.308 with some volume before considering any upward momentum valid. Otherwise, it's just noise.