Analyst Targets 1700% Rally For Lido DAO From Key Support

Lido DAO token LDO is catching the attention of market watchers after falling nearly 94 percent from previous all time highs. Analyst Crypto Patel shared a bullish outlook on social media, suggesting that the asset is sitting in a major accumulation zone between $0.275 and $0.24. While the price trades near $0.29, the broader trend remains bearish until buyers can push past key overhead resistance levels.

Recent downward pressure stems partly from worries surrounding Ethereum and its proposed EIP 8361 update. Analysts point out that fears over potential changes to staking rewards have created headwinds for liquid staking assets. Despite these short term concerns, supporters believe the current price action near long term support offers a solid foundation for a future trend reversal.

For the bullish setup to play out, LDO needs to secure a weekly close above $0.47 to signal a true change in market structure. If buyers manage this move, higher targets sit at $1.50, $2.50, and eventually a return toward $4. Traders should watch the $0.23 level closely, as any weekly close below that mark would invalidate the current recovery idea.