USDT Dominance Update:
The USDT dominance chart shows a symmetrical triangle pattern, suggesting a potential breakout in either direction.
Currently, it is facing a resistance at 4.8% and if the resistance stays strong then a 7% rejection is likely possible.
Key Levels to Watch:
~ Resistance around the 4.80% level.
~ Support around the 4.50% level.
The USDT dominance chart shows a symmetrical triangle pattern, suggesting a potential breakout in either direction.
Currently, it is facing a resistance at 4.8% and if the resistance stays strong then a 7% rejection is likely possible.
Key Levels to Watch:
~ Resistance around the 4.80% level.
~ Support around the 4.50% level.
Note
Update on the USDT Dominance:
Timeframe: Daily
The USDT.D is getting rejected from the resistance trendline, indicating a possible downtrend in the upcoming week.
Does this mean the following week could be green for the market?
Possibly yes!
Here are some important key points to consider:
~ The daily close must be in red.
~ If the dominance breaks out and closes above 4.8% on the daily timeframe, then the rejection will be invalidated.
Do your own research before investing.
Regards,
Team Dexter.
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Related publications
Disclaimer
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.