USDT dominance analysis, Upcoming rally in alts!!!
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Hello everyone,
Let's analyze USDT Dominance (USDT.D) in daily timeframe!!
In my previous ETHUSDT post, I highlighted that ETH was approaching the 200MA, a key support zone, from which we could anticipate a bounce for both ETH and altcoins. Similarly, USDT.D has recently reached the upper boundary of the parallel channel it's been trading in. Historically, whenever USDT.D touches this upper boundary and the StochRSI forms a bearish crossover in the overbought region, it often signals a significant rally in the market.
At present, a similar pattern is unfolding, with USDT.D touching the channel's upper boundary and the StochRSI forming a bearish crossover in the overbought region. Additionally, both BTC and ETH are approaching critical support levels.
Based on these signals, entering altcoins may prove profitable as these indicators suggest a potential upcoming rally in the altcoin market. However, this analysis would be invalidated if USDT.D breaks above the channel.
Resistance zone:
- 6.56%
Support zones:
- 6.17%
- 5.90%
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Hello everyone,
Let's analyze USDT Dominance (USDT.D) in daily timeframe!!
In my previous ETHUSDT post, I highlighted that ETH was approaching the 200MA, a key support zone, from which we could anticipate a bounce for both ETH and altcoins. Similarly, USDT.D has recently reached the upper boundary of the parallel channel it's been trading in. Historically, whenever USDT.D touches this upper boundary and the StochRSI forms a bearish crossover in the overbought region, it often signals a significant rally in the market.
At present, a similar pattern is unfolding, with USDT.D touching the channel's upper boundary and the StochRSI forming a bearish crossover in the overbought region. Additionally, both BTC and ETH are approaching critical support levels.
Based on these signals, entering altcoins may prove profitable as these indicators suggest a potential upcoming rally in the altcoin market. However, this analysis would be invalidated if USDT.D breaks above the channel.
Resistance zone:
- 6.56%
Support zones:
- 6.17%
- 5.90%
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
Note
USDT dominance in LTF recently broke out, resulting in a significant BTC drop, but it now appears to be breaking down again, possibly indicating a fake-out. If USDT dominance falls below this support, BTC’s upward momentum may continue; otherwise, BTC might head back towards its current support level.
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