USDT Dominance Breakdown Ahead?
USDT Dominance (USDT.D) has formed a bearish inverted cup and handle pattern, pointing to a big move soon!
The weekly chart of USDT dominance shows a clear bearish inverted cup and handle pattern, with a significant breakdown below the neckline. The projected target suggests a potential 60% decline, which could take the dominance to the 1.6-2% range.
This might indicate a shift in market dynamics, with capital rotating from stablecoins into altcoins or Bitcoin. A key moment to watch for crypto traders.
What’s your take on this? Could this spark an altcoin rally?
The weekly chart of USDT dominance shows a clear bearish inverted cup and handle pattern, with a significant breakdown below the neckline. The projected target suggests a potential 60% decline, which could take the dominance to the 1.6-2% range.
This might indicate a shift in market dynamics, with capital rotating from stablecoins into altcoins or Bitcoin. A key moment to watch for crypto traders.
What’s your take on this? Could this spark an altcoin rally?
Trade active
Currently, #Dominance is facing this horizontal resistance. In my opinion, we may see a rejection here. However, in the worst case, if Dominance breaks this resistance, we could see a bounce toward the blue resistance level.
Stay tuned and follow me for more updates.
DYOR, NFA
#Crypto
Trade closed: target reached
USDT #Dominance is below the descending trendline, with the 200 MA also serving as a strong resistance level.
A rejection is expected, but if these resistance levels are broken, it could signal a significant shift for #Altcoins
Stay tuned and follow for more updates.
#Crypto
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Register on Blofin and trade with me: bit.ly/Mojo1000
Free TG Daily Futures Signals: bit.ly/CRYPTOMOJO_TA-TG
Free TG Daily Futures Signals: bit.ly/CRYPTOMOJO_TA-TG
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.