Analyst Crypto Patel said on August 6 that Lido DAO’s LDO token could recover more than 1,700% after falling nearly 94% from its all-time high. The token is currently trading around $0.29, near the proposed accumulation zone between $0.275 and $0.24. The bullish setup would be invalidated by a weekly close below $0.23, while a move above $0.47 would signal a possible trend change. LDO’s recent weakness has been linked to concerns around Ethereum’s EIP-8361 proposal, which could limit staking rewards and reduce demand for liquid staking tokens such as stETH. The analyst targets $1.50, $2.50, and eventually back toward the token’s old cycle high near $4, provided LDO reclaims $0.47 on a weekly basis.
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