USDT.DOMINANCE CHART UPDATE !!
USDT Dominance (USDT.D) confirms the breakdown of the head and shoulders pattern, indicating a strong bearish trend. Here's a detailed log analysis:
The neckline support has been breached, confirming the pattern's validity.
The measured move suggests a target towards the 1.80%-2.00% zone, aligning with historical support.
There is a significant breakdown below the Ichimoku Cloud, with volume likely supporting the move.
This reinforces a bearish outlook, signaling a shift of capital away from stablecoins.
As USDT Dominance decreases, funds flow into risk assets, typically Bitcoin and altcoins.
This aligns with a bullish sentiment in the broader crypto market.
Resistance: 4.50%-4.80% (previous neckline and Ichimoku Cloud).
Support: 1.80%-2.00% (highlighted shaded area on the chart).
The pattern's implications suggest further downside for USDT Dominance, which could be a tailwind for crypto market growth. A breakdown continuation is likely unless dominance reclaims the neckline area.
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.
You can DM us for information on any other coin.
@Peter_CSAdmin
The neckline support has been breached, confirming the pattern's validity.
The measured move suggests a target towards the 1.80%-2.00% zone, aligning with historical support.
There is a significant breakdown below the Ichimoku Cloud, with volume likely supporting the move.
This reinforces a bearish outlook, signaling a shift of capital away from stablecoins.
As USDT Dominance decreases, funds flow into risk assets, typically Bitcoin and altcoins.
This aligns with a bullish sentiment in the broader crypto market.
Resistance: 4.50%-4.80% (previous neckline and Ichimoku Cloud).
Support: 1.80%-2.00% (highlighted shaded area on the chart).
The pattern's implications suggest further downside for USDT Dominance, which could be a tailwind for crypto market growth. A breakdown continuation is likely unless dominance reclaims the neckline area.
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.
You can DM us for information on any other coin.
@Peter_CSAdmin
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