Lido DAO/Tether Market Overview

• Price surged 3.8% after breaking above 1.1461, confirming bullish momentum.
• Volatility spiked in late ET hours, with volume spiking above $400k in key bullish candles.
• RSI crossed overbought territory above 65, signaling potential near-term pullback risk.
• Bollinger Bands expanded sharply, reflecting increased price uncertainty ahead.
• A bullish engulfing pattern formed at 1.1208–1.1366, suggesting buyers may control the next 24 hours.

Lido DAO/Tether (LDOUSDT) opened at $1.1293 on October 9 at 12:00 ET, surged to a high of $1.1965, dipped to a low of $1.1174, and closed at $1.1232 on October 10 at 12:00 ET. Total volume across the 24-hour window was 6.34 million tokens, while notional turnover reached approximately $7.5 million, showing strong participation during late ET price surges.

Structure & Formations

The 15-minute chart displayed a strong bullish reversal at the 1.1208 level, where a bullish engulfing pattern formed. This marked a critical support level that was successfully defended and retested multiple times throughout the session. Later in the day, a sharp rally from 1.1713 to 1.1965 saw a 2.3% move and formed a key resistance cluster around 1.1850–1.1965. A large-bodied candle at 1.1921–1.1965 indicated strong institutional buying pressure, while a long upper shadow near 1.2019 suggested short-term profit-taking.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA (a golden cross), confirming a short-term bullish bias. For the daily chart, while the 50-period MA remained above the 200-period MA, the 100-period MA began to converge with the 50-period MA, signaling potential consolidation ahead.

MACD & RSI

The MACD crossed into positive territory and showed a strong bullish divergence with price during the final hours of the session. RSI climbed above 65, peaking at 69.6 during the 1.1921–1.1965 rally, entering overbought territory and suggesting potential for a near-term correction.

Bollinger Bands

Bollinger Bands expanded dramatically between 1.1713 and 1.1965, indicating a high-volatility environment. Price action remained within the upper band for most of the rally, and a breakout attempt near 1.2019 saw rejection, with a re-entry below the upper band. This suggests a possible retest of the 1.1850–1.1921 level in the near term.

Volume & Turnover

Volume spiked significantly in the late ET hours, with the largest candle (1.1869–1.1965) recording a volume of 189,407 tokens. Notional turnover also surged, reaching a 24-hour peak during this rally. However, a divergence appeared between volume and price during the 1.1965–1.1917 correction, suggesting buyer fatigue and potential exhaustion of the current upward trend.

Fibonacci Retracements

Applying Fibonacci levels to the 1.1208–1.1965 swing, the key 61.8% retracement level is at 1.1688, which was tested multiple times during the consolidation phase. The 38.2% level at 1.1848 coincided with a major resistance cluster and may serve as a pivot point in the next 24 hours.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when the 15-minute RSI crosses above 55 and the 20-period MA crosses above the 50-period MA, with a stop loss placed below the nearest Fibonacci retracement level (38.2%). A trailing take-profit could be placed near the upper Bollinger Band or above 1.1965, depending on volatility. Historical data from this 24-hour session suggests this approach would have captured the 1.1208–1.1965 rally with minimal early exit due to the strong divergence in MACD and RSI.