Lido DAO/Tether Market Overview

• Price declined from 1.0959 to 1.0696, forming a bearish trend with increasing bear volume.
• RSI oversold below 30, signaling potential near-term bounce; MACD negative but flattening.
• Volatility expanded as price hit Bollinger Bands lower band, indicating pressure at 1.06–1.07.
• Volume surged during the breakdown below 1.07, confirming bearish momentum.
• Fibonacci retracement levels suggest possible bounce from 61.8% (1.0663) and resistance at 50% (1.0793).

24-Hour Summary (12:00 ET – 12:00 ET)

Lido DAO/Tether (LDOUSDT) opened at 1.0922, peaked at 1.0959, and bottomed at 1.0400 before closing at 1.0696 at 12:00 ET. The 24-hour period saw a total volume of 20.76 million and a notional turnover of $23.11 million, highlighting significant bear activity in the early hours and a consolidation phase in the following period.

Structure & Formations

The price action over the past 24 hours shows a strong bearish trend with a key breakdown below the 1.07 level. This was accompanied by a long bearish candle with a high wick forming at 1.096, signaling rejection at resistance. A double bottom pattern emerged near 1.0556–1.0570, with a potential bullish rebound in the morning. However, a bearish engulfing pattern confirmed the breakdown in the early afternoon. A bearish continuation is likely unless the price closes above 1.075 on a sustained basis.

Moving Averages and Fibonacci

On the 15-minute chart, the 20-period and 50-period moving averages are both bearish, with the price trading below both. Daily moving averages (50/100/200) are in a steeply bearish configuration. Fibonacci retracements on the most recent 15-minute swing (1.0959–1.0400) indicate key support at 61.8% (1.0663) and potential resistance at 50% (1.0793). Daily retracements suggest critical levels at 61.8% (1.066) and 50% (1.078). These levels could become significant in the next 24 hours.

Momentum Indicators and Volatility

The RSI reached oversold territory (<30), hinting at short-term buying pressure, while the MACD remains bearish with a narrowing histogram, suggesting easing momentum. Bollinger Bands widened as the price hit the lower band, indicating increased volatility and bearish pressure. A breakout above the upper band could reverse the short-term trend but remains unlikely without a significant catalyst.

Volume and Turnover Analysis

Volume spiked during the breakdown below 1.07, confirming bear control. Turnover surged in the early hours as the price fell sharply from 1.096 to 1.061. There is a divergence in the later period, where volume waned despite continued bearish pressure, suggesting exhaustion. However, renewed volume at 1.065 would indicate renewed selling pressure.

Backtest Hypothesis

Given the current structure and the presence of a double bottom with confirmed breakdown, a potential strategy would involve shorting on a close below 1.065 with a stop above 1.073 and a target at 1.046 (Fib 38.2% support). A bullish trade could enter on a close above 1.075, targeting 1.085 on the 15-minute Fibonacci resistance. This approach aligns with the observed price action and volume dynamics, leveraging trend confirmation and Fibonacci levels as dynamic entries and exits.