LDO – Waiting at the $1 ConfluenceLDO is overall bullish and currently in a correction phase inside a falling red channel. I’m waiting for price to reach the confluence of the support zone + round number $1.00 + lower red trendline. That intersection is where I’ll look for longs if we get a clear bullish reaction.
If we bounce: first targets $1.15–$1.20, then $1.30–$1.40 (channel top). A clean break/retest above $1.10 would add confirmation.
Invalidation: a daily close below $0.90 would put the setup on hold.
Does the $1 confluence hold and kick off the next leg up? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
