The chart shows USDT.D (Tether dominance) moving within a descending channel.
Currently, USDT.D is testing the upper resistance of the channel, around 4.65%.
If the dominance gets rejected at this level, the next potential target is the lower channel support around 3.9-4.0%.
This could indicate a risk-off environment where traders move capital from stablecoins (USDT) to more volatile assets like Bitcoin or altcoins.
The 50 and 200 moving averages provide dynamic resistance levels that support this potential downside move.
Thanks for your support!
DYOR. NFA
Currently, USDT.D is testing the upper resistance of the channel, around 4.65%.
If the dominance gets rejected at this level, the next potential target is the lower channel support around 3.9-4.0%.
This could indicate a risk-off environment where traders move capital from stablecoins (USDT) to more volatile assets like Bitcoin or altcoins.
The 50 and 200 moving averages provide dynamic resistance levels that support this potential downside move.
Thanks for your support!
DYOR. NFA
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Related publications
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.