Price Analysis

Chainlink (LINK) And Lido Dao (LDO) Hint A 10% Plunge This Week?

With the ongoing market turmoil, the cryptocurrency market has recorded a correction of 4.39% in valuation within the past day. Top tokens have plunged below their crucial/important support levels, indicating a rising bearish sentiment in the crypto space.

Moreover, top altcoins have displayed a similar price trend by experiencing a significant correction in their respective portfolios. Further, top Ethereum-based tokens such as Chainlink and Lido Dao have each recorded a correction of over 5% in their valuations.

Planning on investing in these altcoins but concerned about the ongoing cross-border market correction? Dive in as, in this article, we have covered the market sentiments and price analysis of Chainlink (LINK) and Lido Dao (LDO) tokens.

The LINK price, with a correction of 8.95% within the past day has plunged below its crucial support level, indicating increased bearish sentiment for the altcoin in the crypto market. Moreover, it has dropped 7.12% within the past seven days and 26.63% over the past 30 days.

TradingView: LINK/USDT

The technical indicator, MACD, displays a constant decline in the green histogram, indicating increased bearish sentiment in the market. Further, the averages show a high possibility of a negative crossover, suggesting the Chainlink price will continue losing momentum this week.

On the other hand, the Cross EMA 50/200-day has recorded a Death Cross in the 1D time frame, highlighting a negative outlook for the altcoin in the coming time.

If the market holds the Chainlink price above the support level of $13.275, the bulls will regain momentum and prepare to test its upper resistance level of $15.050. Conversely, if the bears overpowered the bulls, the LINK crypto price would plunge toward its low of $11.775.

LDO Price On The Verge Of A Major Breakdown:

The Lido Dao price has recorded a correction of 3.56% within the past day and 28.04% over the past week. Further, this altcoin has plunged 25.83% within the past 30 days and has a Year-to-Date (YTD) return of 35.79%.

Lido Dao Price Analysis
TradingView: LDO/USDT

The Moving Average Convergence Divergence (MACD) displays a significant rise in the red histogram, highlighting an increase in the negative price action for the Lido Dao price in the market. Further, the averages record a similar trend, suggesting increased bear power in the market.

Furthermore, the SMA indicator constantly acts as a resistance to the LDO crypto price chart, suggesting a weak bullish sentiment in the crypto space.

If the bears continue to dominate the market, the Lido price will prepare to test its crucial support level of $1.50 this month. However, if the bulls regain momentum, the LDO token will head toward its upper resistance level of $2.235.

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