Lido Could Fall Another 15%, as Bears Extend Price Dip

Business & Finance
19 Jan 2024 • 4:00 PM MYT
Blockhead
Blockhead

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Lido (LDO) extended its bearish retracement by breaking the key support level of $3.2. The initial dip from $4 was briefly halted by bulls with a bullish candle at the previous support level but the intense selling pressure resulted in a 12% dip over the past 24 hours.

This follows a general reversal in the crypto market with Bitcoin (BTC) dropping to the $41k price zone and the global marketcap of cryptocurrencies decreasing by 3.27% over the past day.

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