USDT.DOMINANCE 1DAY CHART UPDATE !!
Currently, USDT dominance is at 5.27%, near the lower bound of the ascending channel. The chart suggests this is a potential support level, and the price may bounce from here based on previous behavior.
The yellow line could represent a moving average, which is currently sloping upwards, further supporting the potential for a continued increase in dominance.
The green curve suggests a possible bullish path, leading USDT dominance to potentially rise to the 6.60% level, possibly aiming for the 7.00% mark as indicated by the upper brown box.
The brown zone around 7.00% has historically been a resistance level. The area between 4.56% (orange line) and the lower red zone has acted as significant support.
This suggests a likely increase in USDT dominance in the coming weeks, with a potential upside toward the 6.60-7.00% zone. Would you like a more detailed interpretation or further analysis of its potential market impact?
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.
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