No sooner than bears accelerated their pressure over the markets, the BTC price slumped below $65,000 with fewer chances of a recovery. Besides, Ethereum, which has been surrounded with optimism after the recent SEC update, remains self-assured of marking fresh monthly highs. With this, the Ethereum-based tokens, LDO & CORE, have also gained strength but seem to be waiting for the ETH price to secure certain levels.
The ETH price is holding crucial support at $3480 and after testing these levels, it has triggered a minor rebound. Technicals suggest the continuation of the recovery phase as the MACD and DMI are about to materialise a bullish crossover. However, the bullish interference is limited, due to which the price may remain consolidated for a while. Further, a notable rise may lift the levels within the upper resistance zone between $3,650 and $3,709. If the bulls sustain here, a rise towards $4000 is imminent.
What’s Next for Lido DAO & Core Price?
The Core price has been sustained within a decisive symmetrical triangle even though it lost one of the important supports during the latest pullback. However, bullish signals have been flashed as the RSI has triggered a healthy rebound after reaching the lower threshold. Therefore, the CORE price is believed to reach the edge of the consolidation, trigger a strong breakout and head towards the upper targets above $2.
Besides, after a strong recovery, the LDO price is closely consolidating within a range, flaunting the possibility of a bullish breakout.
After a brief upswing, the LDO price is consolidating, which indicates the possibility of maintaining a decent upswing towards the upper resistance of the triangle. Unfortunately, the recent pullback has turned the Gaussian channel bearish and the RSI has been diverted from a rising trend. However, the bullish possibility has not waned yet and hence a strong rise above $2.45 is required to squash the bearish narrative.
Collectively, bears are trying hard to regain their dominance back on the ETH price rally and the Ethereum-based tokens Lido DAO, & Core. However, they may not do so as a major price action is on the horizon, which may revive the Ethereum ecosystem.
