LDO is ready to rock

But there's a twist! We're in a tricky spot where caution is key. We’ve seen instances where bullish candlesticks suddenly flipped and went bearish.

So, we’ll recommend waiting for the close.

Wait for the daily and weekly candlestick closures before making a move. Since April 19, 2023, Lido struggled to stay above a certain level. 

The current situation seems promising, but it's all about whether it can close strong and stay above that tricky level.

There are two main outcomes to watch for:

• Scenario 1: If Lido closes above the key level, it's likely to go higher. Hello, $2.8 target!
• Scenario 2: It might reverse and go lower if it doesn’t close above. In that case, it is better to wait and watch for lower prices to make a move.

1. Don't chase the current bullish candlestick. The market has seen reversals before, so waiting for a clear pattern and a break above the recent high is better before expecting more upside.
2. If you are itching to short LDO, think twice!  We generally don’t encourage shorting the market unless there's a super clear sign.