Crypto Market Explodes as ETH Price Scales: LDO and  PYTH Price Record Massive Gains

The post Crypto Market Explodes as ETH Price Scales: LDO and  PYTH Price Record Massive Gains appeared first on Coinpedia Fintech News

Just a few hours ago, the markets were stuck within a bearish consolidation as the Bitcoin price was stuck within a range of around $67,000. Many believed the price may maintain a healthy ascending consolidation and reach $71,000. However, with the rounds of the approval of spot Ethereum ETF approval, the market participants appear to be hopeful for the upcoming trend. In the meantime, altcoins like LDO and PYTH have surged magnificently and could mark new highs soon.

Lido DAO (LDO) Price Analysis

• Regardless of the bearish pressures, the LDO price has been trading within a rising wedge pattern which results in a minor pullback that has been accomplished

• However, the price is yet to enter back into the range but the latest jump with minimal bearish pressure has narrowed the distance 

• Besides, the stochastic RSI in the weekly chart has initiated a bullish rebound, suggesting the price may maintain a healthy upswing hereafter

• The price has reached above $2.2 and if a rise above $2.5 stabilises before the day’s end, then a fresh upswing may begin to mark new yearly highs above $4.

Pyth Network (PYTH) Price Analysis

• The PYTH price has surged above the descending parallel channel and is about to enter the crucial zone which has been acting as a support-cum-resistance zone since the start

• The RSI has bounced from the bottom and is about to mark the average levels, which indicates a continued upswing 

• However, a rise above the bearish influence may be validated once the levels enter, sustain and consolidate, which may cause a rise to $0.7

• Besides, if the bulls fall weak, then the PYTH price may again enter the parallel channel and constantly make attempts to break above the upper resistance