USDT dominance chart update details:
Updated
“death cross” has formed, where a short-term moving average (possibly the 50-day, shown in red) has crossed below a long-term moving average (possibly the 200-day, in green). This pattern typically suggests a bearish signal, indicating the potential for further declines in USDT dominance.
The overall direction appears downward, with USDT dominance testing lower support areas within a descending channel.
Key support levels are marked in green and gray. The current price level is slightly above the major support area around 5.0%. The chart suggests a possible continuation downward, with the next significant support area near 4.0%.
The large downward arrow indicates a bearish outlook for USDT dominance, suggesting potential further declines toward the 4.0% range if current support levels fail to hold.
This chart indicates that if USDT dominance continues to decline, this could correlate with a potential uptrend in the broader crypto market, as money flows from stablecoins into other assets.
Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
You can DM us for information on any other coin.
@Peter_CSAdmin
The overall direction appears downward, with USDT dominance testing lower support areas within a descending channel.
Key support levels are marked in green and gray. The current price level is slightly above the major support area around 5.0%. The chart suggests a possible continuation downward, with the next significant support area near 4.0%.
The large downward arrow indicates a bearish outlook for USDT dominance, suggesting potential further declines toward the 4.0% range if current support levels fail to hold.
This chart indicates that if USDT dominance continues to decline, this could correlate with a potential uptrend in the broader crypto market, as money flows from stablecoins into other assets.
Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
You can DM us for information on any other coin.
@Peter_CSAdmin
Trade active
As I told you in the previous chart, the dominance was a breakdown, and it is happening very well. What is your opinion? Please comment.
Trade closed: target reached
Note
In the last update, we told you
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