The cryptocurrency market faced a sharp correction on Thursday as Bitcoin (BTC) broke below its short-term bullish structure, testing the critical psychological support near $100,000. The sell-off quickly spread across the board, triggering widespread panic and profit-taking—particularly among major altcoins such as Lido DAO (LDO), Jupiter (JUP), and Fetch.ai (FET). With momentum shifting bearish, traders are asking: Is this dip temporary, or are further declines ahead?
This technical analysis explores the current price action of LDO, JUP, and FET, identifying key support and resistance levels, chart patterns, and momentum indicators to assess near-term outlooks.
Lido DAO (LDO): Testing Support Amid Falling Wedge Formation
Following a 14% drop on Thursday, LDO has stabilized with minimal price movement in today’s session. Although the token has fallen below the $0.80 mark, it has so far held above the May low of $0.741—a level that could determine the next major directional move.
Currently, LDO is finding solid support along a downward trendline formed by lows from May 18, 20, and 31. When combined with the resistance line connecting highs from January 31, May 13, and June 4, this forms a developing descending wedge pattern—a typically bullish reversal formation when broken to the upside.
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On the daily chart, the MACD remains deeply in negative territory, with both the MACD line and signal line below zero, indicating sustained bearish momentum. Meanwhile, the RSI sits at 39, suggesting LDO still has room to decline before entering oversold conditions.
A daily close below $0.741 would confirm a breakdown from the wedge and signal further downside. Bearish traders may target $0.630—the lowest closing price since July 2022—as the next major support.
Conversely, a rebound above the 50-day EMA at approximately $0.894 could spark renewed buying interest. This level has acted as strong resistance in recent weeks and may trigger significant profit-taking if approached again.
Key Levels:
- Support: $0.741 (May low), then $0.630
- Resistance: $0.894 (50-day EMA)
Jupiter (JUP): Breaking Below Key Neckline Support
Jupiter (JUP) collapsed by 11.70% during Thursday’s selloff, breaking down from a previously bullish head and shoulders pattern. Trading at $0.4585, JUP is now in consolidation mode after a strong downward move.
This reversal pattern was confirmed when the price breached the “neckline” support at $0.4764. Notably, the “head” of the pattern was capped by the 200-day EMA, while both “shoulders” were rejected at the 100-day EMA—highlighting increasing selling pressure over time.
With the breakdown now confirmed, the measured move target points toward $0.4019—the May bottom—which aligns with historical support and could act as a potential reversal zone.
Momentum indicators reinforce the bearish outlook:
- MACD: Red histogram continues to expand, signaling growing downside momentum.
- RSI: Currently at 39, indicating weakening buying pressure but not yet oversold.
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However, a recovery above $0.4764—the broken neckline—would invalidate the bearish setup and reopen the possibility of an upward move toward the 50-day EMA at $0.5139. Until then, the path of least resistance remains downward.
Key Levels:
- Support: $0.4019 (May low)
- Resistance: $0.4764 (neckline), then $0.5139 (50-day EMA)
Fetch.ai (FET): Approaching Critical $0.70 Threshold
Fetch.ai (FET) is now dangerously close to breaking below the $0.70 psychological level—a breach that could accelerate selling momentum across the AI-themed altcoin sector.
Recent price action shows FET struggling to maintain gains after failing to retest former resistance-turned-support zones. The token has been trending lower since early June, forming lower highs and lower lows—a classic sign of bearish dominance.
The daily chart reveals increasing selling pressure:
- MACD: Both lines are below zero and trending further downward.
- RSI: Holding around 41, still above oversold territory but declining steadily.
If FET closes below $0.695—a level that previously acted as support in late May—the next major floor could be near $0.620, coinciding with the 200-day EMA and a long-term demand zone.
On the upside, reclaiming $0.75 would suggest short-term stabilization. A stronger bullish signal would require a break above $0.82—the 50-day EMA—which remains a key hurdle for buyers.
Given its correlation with broader AI narratives and BTC’s direction, FET’s fate may depend heavily on whether Bitcoin can stabilize above $95,000.
Key Levels:
- Support: $0.695 (immediate), then $0.620
- Resistance: $0.75 (near-term), $0.82 (50-day EMA)
Core Keywords
- Bitcoin market analysis
- LDO technical analysis
- JUP price prediction
- FET crypto outlook
- Altcoin selloff 2025
- Cryptocurrency technical patterns
- Bearish breakout signals
- Crypto support and resistance
Frequently Asked Questions
Q: Why are LDO, JUP, and FET dropping alongside Bitcoin?
A: Bitcoin often sets the tone for the broader crypto market. When BTC breaks key support or shows weakness, altcoins tend to follow due to reduced risk appetite and increased margin calls or liquidations across leveraged positions.
Q: Is a descending wedge always bullish for LDO?
A: While descending wedges are typically bullish reversal patterns, they must be confirmed by a breakout above resistance with strong volume. Until LDO clears $0.894, the pattern remains unconfirmed and vulnerable to breakdown.
Q: What does a head and shoulders pattern mean for JUP?
A: It's a bearish reversal signal. After forming a "head" higher than two "shoulders," a break below the neckline suggests trend exhaustion and likely further downside—especially when confirmed by volume and momentum indicators.
Q: Can FET recover if Bitcoin bounces?
A: Yes. As a high-beta altcoin tied to AI narratives, FET often amplifies Bitcoin’s moves. A sustained BTC recovery could spark short-covering and renewed speculative interest in FET.
Q: How reliable are EMA levels like 50-day and 200-day?
A: These moving averages act as dynamic support/resistance zones and are widely watched by institutional and retail traders alike. Breaks or bounces from them often precede significant price moves.
Q: Should I buy the dip or wait for more downside?
A: That depends on your risk tolerance and timeframe. Traders may wait for confirmed reversals (e.g., bullish candlestick patterns, RSI divergence), while long-term investors might average in gradually near strong historical supports.
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With Bitcoin’s stability in question and technical patterns turning bearish across major altcoins, caution remains warranted. Traders should monitor key support levels closely and watch for confirmation signals before entering new positions. While short-term pain may continue, historical patterns suggest these corrections often lay the groundwork for future rallies—especially in high-potential sectors like decentralized staking (LDO), DeFi infrastructure (JUP), and artificial intelligence (FET).