USDT dominance (USDT.D) : WEAKENING
Technical analysis appears to indicate a bearish outlook:
Rising Channel Pattern:
The dominance is trading within a rising channel indicative of a potential breakdown if the price loses support at the lower trend-line.
200 Moving Average:
The dominance has been consistently trading below MA, acting as resistance. The trend remains bearish as long as it stays under this zone.
Expected Breakdown:
The projection is USDT.D possibly moving up to test resistance and then sharply declining to break below the lower trend-line. This suggests a decrease in USDT dominance, which typically corresponds to bullish momentum in crypto markets nearing Trump's inauguration.
Support Zones:
Watching for a clear break below the lower trendline, as it could confirm the bearish scenario.
Rising Channel Pattern:
The dominance is trading within a rising channel indicative of a potential breakdown if the price loses support at the lower trend-line.
200 Moving Average:
The dominance has been consistently trading below MA, acting as resistance. The trend remains bearish as long as it stays under this zone.
Expected Breakdown:
The projection is USDT.D possibly moving up to test resistance and then sharply declining to break below the lower trend-line. This suggests a decrease in USDT dominance, which typically corresponds to bullish momentum in crypto markets nearing Trump's inauguration.
Support Zones:
Watching for a clear break below the lower trendline, as it could confirm the bearish scenario.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.