Altcoins
Ethereum Struggles at $3500 as Lido DAO and Core Prices Show Strength!
As the bears accelerated their pressure on the markets, the price of BTC it collapsed below $65,000 with less chance of recovery. Furthermore, Ethereum, which has been surrounded by optimism following the recent SEC update, remains confident of marking new monthly highs. With this, Ethereum-based tokens, LDO & CORE, have also gained strength but seem to be waiting for the ETH price to guarantee certain levels.
ETH price holds crucial support at $3480 and, after testing these levels, triggered a slight rebound. Technical data suggests the continuation of the recovery phase as the MACD and DMI are about to materialize a bullish crossover. However, bullish interference is limited, so the price may remain consolidated for a while. Furthermore, a notable rally could lift levels inside the upper resistance zone between $3,650 and $3,709. If the bulls hold here, a rally towards $4,000 is imminent.
What is the outlook for Lido DAO and core price?
Core price was supported within a firm symmetrical triangle, even though it lost one of the important supports during the latest pullback. However, bullish signals emerged as the RSI triggered a healthy rebound after reaching the lower threshold. Therefore, the CORE price is believed to reach the consolidation limit, trigger a strong breakout and head towards the upper targets above $2.
Furthermore, after a strong recovery, the LDO price is consolidating within a range, flaunting the possibility of a bullish breakout.
After a brief recovery, the LDO price is consolidating, which indicates the possibility of maintaining a decent recovery towards the upper resistance of the triangle. Unfortunately, the recent pullback has made the Gaussian channel bearish and the RSI has deviated from an uptrend. However, the bullish possibility is not gone yet and thus a strong rally above $2.45 is needed to crush the bearish narrative.
Collectively, the bears are trying to regain their dominance on the ETH price rally and the Ethereum-based tokens Lido DAO and Core. However, they may not as major price action is on the horizon, which could revive the Ethereum ecosystem.