USDT.DOMINANCE 1DAY CHART UPDATE !!
The 21-day moving average acts as resistance indicating that the price needs to move above this level to regain bullish momentum.
If USDTD breaks below the support trendline of the rising wedge and drops below the Ichimoku Cloud, it would confirm the bearish trend.
This scenario would likely correspond to a bullish move in the broader crypto market, as USDT.D moves opposite to major cryptocurrencies like BTC and ETH.
USDT.D could continue to consolidate within the triangle formed by the rising wedge. This would involve sideways movement with possible minor fluctuations, indicating uncertainty and a lack of strong directional bias.
Less likely given the rising wedge pattern, a sustained move above the 21 MA and sustaining above the Ichimoku Cloud would signal renewed bullish strength for USDT.D, potentially signaling a bearish trend for the broader crypto market.
Bearish Indicators: A potential breakdown below the rising wedge pattern and the Ichimoku Cloud indicates a bearish outlook for USDTD.
Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!
Dominanc
IEXECBTC (requested analysis)I would personally not jump in at this point however if you have been in I would hold. I dont see anything obvious here other than breaking out however its too oversold for me to justify a buy in. This isnt very helpful but I can not in good confidence give a positive or negative call with this chart pattern. However there are other patterns that looks like that are going to mimic this chart.. OMGBTC being one of them.
God Speed,
Mr. Manbearpig