USDT DOMINANCE UPDATE YOU CANNOT MISS.
Greetings, fellow traders,
I'd like to present a significant update regarding USDT dominance within a 2-day timeframe.
Recently, USDT.D has been exhibiting an upward trend, nearing the white resistance trendline at 9.5%. This development could potentially trigger concerns within the cryptocurrency market, affecting both BTC and other altcoins. It's worth noting that this particular resistance trendline has previously rejected USDT.D on three occasions.
Furthermore, there's a yellow dotted trendline where the dominance is encountering resistance. While the weekly trendlines appear somewhat distant, an intriguing observation arises.
USDT.D has the potential to reach 9.5%, which represents an increase of approximately 16% from its current level. However, a deeper analysis of the weekly trendline reveals that USDT dominance has been on a downward trajectory since June 2022, failing to reach the weekly support trendline during this period. Consequently, there remains a possibility that the current level may serve as a point of rejection rather than a sustained rally.
Key Points to Consider:
1. A modest resistance level at 8.2% exists, and a rejection is conceivable.
2. A formidable resistance barrier is situated at 9.5%.
3. The RSI indicator has already entered the overbought zone.
I trust you find this update valuable, and I extend my gratitude for your readership.
Trade with prudence and take care.
Best regards,
Team Dexter
I'd like to present a significant update regarding USDT dominance within a 2-day timeframe.
Recently, USDT.D has been exhibiting an upward trend, nearing the white resistance trendline at 9.5%. This development could potentially trigger concerns within the cryptocurrency market, affecting both BTC and other altcoins. It's worth noting that this particular resistance trendline has previously rejected USDT.D on three occasions.
Furthermore, there's a yellow dotted trendline where the dominance is encountering resistance. While the weekly trendlines appear somewhat distant, an intriguing observation arises.
USDT.D has the potential to reach 9.5%, which represents an increase of approximately 16% from its current level. However, a deeper analysis of the weekly trendline reveals that USDT dominance has been on a downward trajectory since June 2022, failing to reach the weekly support trendline during this period. Consequently, there remains a possibility that the current level may serve as a point of rejection rather than a sustained rally.
Key Points to Consider:
1. A modest resistance level at 8.2% exists, and a rejection is conceivable.
2. A formidable resistance barrier is situated at 9.5%.
3. The RSI indicator has already entered the overbought zone.
I trust you find this update valuable, and I extend my gratitude for your readership.
Trade with prudence and take care.
Best regards,
Team Dexter
