🔸Hello traders, let's review the 8hour price chart for LDO today. Sequence of cascading rejection as we are setting up for a deeper correction off the recent highs. 2.05 usd is weak support, since it was tested too many times. expecting support to break down soon.
🔸30% correction looming as bulls fail to reset a sequence of recent rejection and can't print a new ATH, so therefore expect breakdown and more downside in this market.
🔸Recommended strategy LDOUSD: short sell rips/rallies. bears maintain mid-term control. final TP bears is 1.65 USD. bulls should remain on sidelines and wait for lower prices.
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