Are Bears Pushing LDO Down?

Lido Dao has a market cap of $1.54 Billion and is ranked 55th in the CMC. The protocol has a supply of 100 Million in which 89.9% is circulating in the market.LDO is currently trading near the value of $1.74 with a drop of 2.559% in the intraday session. LDO token price is currently trading below the 50 and 200 EMA with a negative crossover in the past. If the price surges above the EMA then a strong upside trend in price can be observed. On the daily chart the asset price is trading in a downside parallel channel. The upside momentum of the Lido token price can see a halt near 2.Meanwhile,the downside momentum of price can observe a halt near $1.5.
The RSI of Lido Dao is near 36 with a downside slope suggesting its presence in the neutral zone. The overall sentiment of RSI and MACD is bearish in nature.