Technical analysis by weslad about Symbol LDO: Buy recommendation (8/22/2024)

LDOUSDT is trading within a potential ascending broadening wedge, with a horizontal base acting as a major support zone. The price recently tapped into this support, leading to an immediate bounce, making this area a strong accumulation zone. The target is set towards the upper trendline of the pattern. Share your thoughts on this trading idea.LDO is consolidating above the re-accumulation zone, maintaining a bullish structure while respecting the external demand zone. A breakout above $2.56 could accelerate price action toward $4.97, aligning with previous liquidity grabs. The dynamic liquidity zone near $5.50 remains a critical rejection area. Failure to hold the re-accumulation zone could trigger a retest of $1.59 or lower.