Markets
LDO and PYTH Price Post Massive Gains
Just a few hours ago, markets were stuck in a bearish consolidation as Bitcoin price was stuck in a range around $67,000. Many believe that the price can maintain a healthy upward consolidation and reach $71,000. However, with the Ethereum spot ETF approval rounds approval, market participants seem to be hopeful about the future trend. Meanwhile, altcoins like LDO and PYTH have risen magnificently and could reach new highs soon.
Lido DAO (LDO) Price Analysis
- Regardless of downward pressures, the LDO Price has been trading within a rising wedge pattern that results in a small pullback that has been achieved
- However, the price has not yet returned to the range, but the last bounce with minimal bearish pressure has narrowed the gap.
- Furthermore, the Stochastic RSI on the weekly chart has started a bullish recovery, suggesting that the price may maintain a healthy recovery in the future.
- The price reached above $2.2 and if a rise above $2.5 stabilizes before the end of the day, then a new rally could begin to mark new yearly highs above $4.
Pyth Network (PYTH) Price Analysis
- PYTH price has risen above the descending parallel channel and is about to enter the crucial zone that has been acting as a support and resistance zone since the beginning
- The RSI has bounced from the bottom and is about to mark mid-range levels, which indicates continued recovery
- However, a rise above the bearish influence could be validated once levels enter, sustain and consolidate, which could cause a rise to $0.7.
- Furthermore, if the bulls fall weak, PYTH price could re-enter the parallel channel and make constant attempts to break above the upper resistance.