USDT Dominance: It has steadily decreased over the past two years 📉 and is now at the MA55 support level on the monthly chart (1M) 🛡️. In March this year, it reached this support and quickly rebounded 📈. We might see a false breakdown below this support over a period of few months 🔄. Additionally, there is a symmetrical triangle 📐; if the price touches the support, the chances for a quick rebound are high, as it usually does not stay at this level for long ⏳.A decrease in USDT dominance means that less money remains in stablecoins and is moving toward other cryptocurrencies such as BTC, ETH, and altcoins 🚀. This is often a sign of growth in the crypto market 📈, as investors take on more risk, shifting from stablecoins to more volatile assets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.