USDT DOMINANCE: FORMATION OF BEARISH DIVERGENCE
Hello traders, here's an update on USDT Dominance.
Time frame: 3 days.
Update: The USDT Dominance is at the support level of 7.2% and above the 21 MA which could be a difficult level to break down. But on the positive side, we have a bearish divergence in the RSI. The USDT.D made a new ATH but the RSI level is lower than the previous one. Even if we see a bounce back from the current level, I don't expect a long rally in the USDT.D. Soon it is going down as per the current market scenario.
Conclusion: Comparing the USDT.D with BTC and other altcoins, there is a possibility that we will see a drop in USDT.D and a rally in BTC and other altcoins.
Still, let us be careful enough with the market. Anything can happen.
What do you think about the USDT.D? Let me know in the comments.
Like and follow for more.
Thank you.
Time frame: 3 days.
Update: The USDT Dominance is at the support level of 7.2% and above the 21 MA which could be a difficult level to break down. But on the positive side, we have a bearish divergence in the RSI. The USDT.D made a new ATH but the RSI level is lower than the previous one. Even if we see a bounce back from the current level, I don't expect a long rally in the USDT.D. Soon it is going down as per the current market scenario.
Conclusion: Comparing the USDT.D with BTC and other altcoins, there is a possibility that we will see a drop in USDT.D and a rally in BTC and other altcoins.
Still, let us be careful enough with the market. Anything can happen.
What do you think about the USDT.D? Let me know in the comments.
Like and follow for more.
Thank you.
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