USDT DOMINANCE: HOVERING CLOSE TO THE SUPPORT LEVEL.
Hello traders. Here's an essential update on USDT dominance in a daily timeframe.
The USDT dominance has been currently holding 6.5% support. With the candle neither going up nor down, it has given good gains to BTC and other altcoins. I can say that it is a good opportunity to make some profits but at the same time, we need to be careful as well. Until and unless the USDT.D is above the support 1 level, a chance of bounce back is possible. The RSI is a clear indication of a bounce back. If the dominance breaks down below the support 1 level then we can expect it to reach the support 2 levels at 5.8%.
IMHO, a major correction is waiting in the market. Let's see how this week will treat the market.
Thank you for reading. Trade safely.
The USDT dominance has been currently holding 6.5% support. With the candle neither going up nor down, it has given good gains to BTC and other altcoins. I can say that it is a good opportunity to make some profits but at the same time, we need to be careful as well. Until and unless the USDT.D is above the support 1 level, a chance of bounce back is possible. The RSI is a clear indication of a bounce back. If the dominance breaks down below the support 1 level then we can expect it to reach the support 2 levels at 5.8%.
IMHO, a major correction is waiting in the market. Let's see how this week will treat the market.
Thank you for reading. Trade safely.
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