After losing hold of the $2 price level, Lido’s [LDO] attempts to reclaim the psychological has been constrained at $1.95. Since late July, the altcoin has faced several price rejections at $1.95, but entered a narrow price range between $1.95 – $1.80. The elevated market uncertainty constricted price action on the lower range; short-sellers can consider this level for potential gains. If so, shorting the altcoin at the mid-range, with a take-profit target at the range-low ($1.8), could offer modest gains. It indicates a drop in demand for LDO in the futures market – a bearish inclination.
