Tether Dominance - Bearish Divergence
Current Market Cap - 6.3 Billion
Tether dominance has risen over %284 ever since the market peaked back in November last year.
However, it is starting to show weakness after it made a higher high while RSI made a lower low.
The last time RSI printed a divergence, it signalled the market bottom and money started flowing back into cryptocurrency
We could potentially see a similar move.
The orange line below, represents the total crypto market cap.
What is Tether Dominance?
Tether (USDT) Dominance shows how much percent of the money is on USDT. There is 2 cause of the increase of USDT dominance.
The first is that investors put cash on the market from the outside, which is due to the unfavourable weather in the market.
And the second is again, as the market falls, investors withdraw their funds from cryptocurrency investments and put them to USDT.
In both of them, a decrease in cryptocurrencies and an increase in USDT holders are observed.
Speculative Setup, DYOR. Allow 3-18 Months For all Crypto Ideas.
Credit to without_worries for allowing use of indicators.
Tether dominance has risen over %284 ever since the market peaked back in November last year.
However, it is starting to show weakness after it made a higher high while RSI made a lower low.
The last time RSI printed a divergence, it signalled the market bottom and money started flowing back into cryptocurrency
We could potentially see a similar move.
The orange line below, represents the total crypto market cap.
What is Tether Dominance?
Tether (USDT) Dominance shows how much percent of the money is on USDT. There is 2 cause of the increase of USDT dominance.
The first is that investors put cash on the market from the outside, which is due to the unfavourable weather in the market.
And the second is again, as the market falls, investors withdraw their funds from cryptocurrency investments and put them to USDT.
In both of them, a decrease in cryptocurrencies and an increase in USDT holders are observed.
Speculative Setup, DYOR. Allow 3-18 Months For all Crypto Ideas.
Credit to without_worries for allowing use of indicators.
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