Lido Dao looks painfully Bearish
A recent chart analysis based on the 4-hour candlestick shows a bearish engulfing pattern.
This pattern is a strong sell signal, indicating that if the current support level fails to hold, further decline is expected.
Specifically, if the current price level breaks down, it is likely to drop to $1.50. With trading volume increasing and selling pressure mounting, investors need to closely monitor the market situation.
If the $1.50 support level does not hold, a continued downtrend may ensue. Therefore, considering a short position in the short term might be advisable.
As the overall market sentiment is turning bearish, a cautious investment strategy is necessary.
This pattern is a strong sell signal, indicating that if the current support level fails to hold, further decline is expected.
Specifically, if the current price level breaks down, it is likely to drop to $1.50. With trading volume increasing and selling pressure mounting, investors need to closely monitor the market situation.
If the $1.50 support level does not hold, a continued downtrend may ensue. Therefore, considering a short position in the short term might be advisable.
As the overall market sentiment is turning bearish, a cautious investment strategy is necessary.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.