USDTDOMINANCE CHART UPDATE !
The chart highlights USDT dominance (USDT.D), which is used to measure market sentiment and money flow into or out of stablecoins such as USDT
The chart shows a completed “head and shoulders” pattern, which is often considered bearish in technical analysis.
The neckline has been broken, indicating the possibility of further declines.
The price appears to be testing a descending triangle, which could indicate a continuation of the decline.
The green area below (possibly around 2.5%-3%) could act as a crucial support if dominance continues to decline.
The 50-day (red) and 200-day (green) moving averages are plotted.
Dominance is trading below both moving averages, which reinforces bearish momentum.
A breakdown of the current triangle could lead to further declines towards the marked support area.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
The chart shows a completed “head and shoulders” pattern, which is often considered bearish in technical analysis.
The neckline has been broken, indicating the possibility of further declines.
The price appears to be testing a descending triangle, which could indicate a continuation of the decline.
The green area below (possibly around 2.5%-3%) could act as a crucial support if dominance continues to decline.
The 50-day (red) and 200-day (green) moving averages are plotted.
Dominance is trading below both moving averages, which reinforces bearish momentum.
A breakdown of the current triangle could lead to further declines towards the marked support area.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
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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.