USDT Dominance Chart Update !!USDT Dominance Chart Update
USDT dominance has broken above the descending trendline.
The current level of 5.84% shows a slight pullback after reaching around 6.70%.
Immediate support is around 5.50%.
Long-term support is significantly lower at 4.56%.
The immediate resistance level is at 6.70%, which was recently tested.
Higher resistance is around 8.50%, which has not been seen since late 2022.
If USDT dominance can stay above the 5.50% support level and break the 6.70% resistance, it could target higher levels around 8.50%.
A break below 5.50% could lead to a decline towards long-term support at 4.56%.
Keep an eye on changes in volume to confirm the strength of the move.
Monitor the RSI for potential overbought or oversold conditions to identify reversal points.
USDT dominance is currently in a critical range. Traders should keep an eye out for a break above 6.70% for bullish continuation or a drop below 5.50% for further bearish action. The 5.50% and 4.56% levels are key support areas, while 6.70% and 8.50% are important resistance areas to keep an eye on.
Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!
