USDC.D (market cap dominance %) analysis
1W/1D:
Prince come into a daily supply zone and formed a new downtrend of LL’s and LH’s with bearish crossover on the MACD and sell on the UCTS. Weekly candle is bearish engulfing also so good confluence of USDC being put into the market instead of being sat in stable coins causing USDC.D to rise.
couple of options could play out when it meets the daily demand zone. Could see a continuation and maintain an uptrend after putting in a new HH, just needs to form a HL. Another option could see demand flip to supply and continue bearish momentum to the bottom of the range.
Prince come into a daily supply zone and formed a new downtrend of LL’s and LH’s with bearish crossover on the MACD and sell on the UCTS. Weekly candle is bearish engulfing also so good confluence of USDC being put into the market instead of being sat in stable coins causing USDC.D to rise.
couple of options could play out when it meets the daily demand zone. Could see a continuation and maintain an uptrend after putting in a new HH, just needs to form a HL. Another option could see demand flip to supply and continue bearish momentum to the bottom of the range.