📈 Tether Dominance Bounce (Upwards Correction)
Updated
When a strong support level breaks, it is normally revisited but as resistance.
The market will test this level to see if it holds.
Tether Dominance moved daily below EMA300, MA200 and the rest of the moving averages.
These levels were working as strong support.
It is likely the index will move in an upwards correction to test this level as resistance.
➖ If it holds, the index will resume lower and hit new lows.
➖ If it breaks, well...
The RSI went deep down, weak/oversold for weeks...
It might be early to call this but the volume behaviour is changing.
Namaste.
The market will test this level to see if it holds.
Tether Dominance moved daily below EMA300, MA200 and the rest of the moving averages.
These levels were working as strong support.
It is likely the index will move in an upwards correction to test this level as resistance.
➖ If it holds, the index will resume lower and hit new lows.
➖ If it breaks, well...
The RSI went deep down, weak/oversold for weeks...
It might be early to call this but the volume behaviour is changing.
Namaste.
Note
After a rounded bottom pattern, USDT.D broke above EMA10 and EMA21.Today EMA10 is being tested as support, so far it holds.
The projection stays the same but things can change.
➖ Bullish above EMA10 (6.45%) and the last low (6.14%).
➖ Bearish below.
Namaste.
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