USDTDominance chart update !!
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USDT Dominance (USDT.D) chart continues to confirm the descending channel pattern, with dominance currently testing the upper trendline.
Dominance remains within the descending channel, with the upper boundary acting as a crucial resistance level near 4.30%-4.35%.
Recent price action shows rejection at this resistance, indicating a possible continuation of the downtrend.
The middle line of the channel may provide minor support around 4.10%.
Strong support lies near the lower boundary at 3.85%-3.90%.
Immediate resistance remains at 4.30%-4.35%.
A breakout above this level would signal a possible reversal in dominance, invalidating the bearish channel.
The current rejection is in line with the bearish outlook.
Momentum suggests that dominance could test the lower trendline again, especially if crypto markets maintain bullish momentum.
The short-term target is the lower limit near 3.85%.
Bullish invalidation occurs above 4.35%.
Monitor further rejection at the upper limit for short entries.
Confirm the breakdown with rising volume.
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
Dominance remains within the descending channel, with the upper boundary acting as a crucial resistance level near 4.30%-4.35%.
Recent price action shows rejection at this resistance, indicating a possible continuation of the downtrend.
The middle line of the channel may provide minor support around 4.10%.
Strong support lies near the lower boundary at 3.85%-3.90%.
Immediate resistance remains at 4.30%-4.35%.
A breakout above this level would signal a possible reversal in dominance, invalidating the bearish channel.
The current rejection is in line with the bearish outlook.
Momentum suggests that dominance could test the lower trendline again, especially if crypto markets maintain bullish momentum.
The short-term target is the lower limit near 3.85%.
Bullish invalidation occurs above 4.35%.
Monitor further rejection at the upper limit for short entries.
Confirm the breakdown with rising volume.
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
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