Lido DAO Price At Risk of 71% Losses: Double Top Pattern Puts Altcoin in Danger

• Lido DAO price was among the top losers with a total drop of 0.15% in price.
• A double top pattern has formed at $3.11, which may cause a 71% loss to $0.89 support level if the bears continue to sell aggressively on the rally to $3.1
• Buyer congestion zones from $0.89 to $1.26 provide strong support for Lido DAO and could help buyers regroup and buy more LDO at lower prices

Lido DAO Price Drops

The crypto market was flashing green at beginning of the New York trading session on Sunday, but Lido DAO price was among the top losers with a total drop of 0.15%.

Double Top Pattern Puts LDO At Risk

LDO Price started the New Year on a positive note bouncing off the $0.89 support floor to stage a 278% rally to yesterday’s high above $3.4, but this move took it just above $3.11, where it was rejected in mid-August sending the price on a downward spiral again. If this trend continues, it is likely that a double top pattern will form at this level, putting Lido DAO at risk of 71% losses down to its previous support level of $0.9 by mid-2023..

RSI Suggests Bears May Be Selling On Rally

The relative strength index (RSI) is facing down, suggesting that sellers are returning to the scene and may be selling aggressively on the rally up to $3.1 if it continues moving downwards past 50 line..

First Line Of Defense Found At $2.68

The first line of defense for LDO is found at