Markets
LDO and PYTH prices post massive gains
Just a few hours ago, markets were stuck in a bearish consolidation, with Bitcoin price stuck in a range around $67,000. Many believed that the price could maintain a healthy upward consolidation and reach $71,000. However, with the Ethereum ETF spot approval rounds approval, market participants seem hopeful about the upcoming trend. In the meantime, altcoins like LDO and PYTH have seen a magnificent surge and may soon reach new highs.
Lido DAO (LDO) Price Analysis
- Regardless of downward pressures, the LDO Price is trading in an ascending wedge pattern, resulting in a slight pullback that has been accomplished.
- However, the price has not yet returned to the range, but the latest jump with minimal bearish pressure has reduced the distance.
- Furthermore, the Stochastic RSI in the weekly chart initiated a bullish rebound, suggesting that the price could maintain a healthy rise thereafter.
- The price has moved above $2.2 and if a rise above $2.5 stabilizes before the end of the day, then a further rise could start marking new yearly highs above $4.
Pyth Network (PYTH) Price Analysis
- PYTH price has surged above the descending parallel channel and is about to enter the crucial area that has been acting as a support and resistance zone all along.
- The RSI has rebounded from the bottom and is about to reach the average levels, which indicates a continued rise.
- However, a rise above the bearish influence could be validated once the levels enter, hold and consolidate, which could result in a rise to $0.7.
- Furthermore, if the bulls weaken, PYTH price may once again enter the parallel channel and constantly attempt to break above the upper resistance.