LAZIOUSDT Breaks Key Resistance, Then Fails — Sharp Reversal at 0.89

Summary
• Price tested key resistance at 0.885–0.89, failing to hold above.
• Volatility expanded after 12:00 ET, with volume surging over 50,000.
• RSI signaled overbought conditions at 0.89, followed by sharp reversal.
• 20-period MA provided partial support during midday recovery.
• Bollinger Band contraction suggested consolidation before 02:00 ET.

At 12:00 ET–1, LAZIOUSDT opened at 0.875, reached a high of 0.892, dropped to a low of 0.833, and closed at 0.857 by 12:00 ET. Total 24-hour volume was 167,581.0 and turnover amounted to 145,982.377.

Structure & Formations

Price formed a bearish engulfing pattern at 0.89–0.885 after failing to hold above key resistance. A doji appeared near 0.889, signaling indecision. Support levels formed at 0.875 and 0.855, with 0.852–0.853 providing short-term stabilization.

Moving Averages

The 20-period MA on the 5-minute chart acted as dynamic support in the morning. On the daily chart, the 50-period MA appears to be a critical level to watch for potential reversal or continuation.

MACD & RSI

RSI reached overbought territory at 0.89 before reversing sharply lower, indicating bearish momentum. The MACD histogram showed a bearish crossover near 0.89, aligning with the reversal.

Bollinger Bands

Volatility expanded during the 22:00–06:00 ET window, with price breaching the upper band. The 02:00–04:00 ET period showed a contraction in bands, suggesting a potential breakout or continuation.

Volume & Turnover

Volume spiked sharply at 01:30 ET when price dropped from 0.882 to 0.864, with turnover surging to 45,103.37. This suggests significant liquidation pressure.

Fibonacci Retracements

Recent 5-minute swings showed key retracement levels at 0.88 (61.8%) and 0.875 (50%). Daily retracements from the 0.892 high to 0.853 low suggest possible support at 0.863 (38.2%).

While the price appears to be consolidating near key support at 0.855, the large volume spike and bearish reversal patterns suggest further downside could be in play. Investors should remain cautious about short-term volatility, particularly if the 0.852 level is tested.