1. Key Support Zone:
- The 3.80% level acts as a strong long-term support, and a reaction from this area is expected.
2. Bullish Scenario:
- Breaking through 5.57%and then 6.61% could lead the dominance toward 8.29%and even 9.49%
- This scenario suggests increasing USDT dominance and selling pressure in the crypto market.
3. Bearish Scenario:
- If the 3.80% support is broken, dominance may experience a deeper decline, favoring a bullish environment for the crypto market.
4. RSI Status:
- The RSI shows bearish divergence and is near the oversold zone, indicating a possible short-term rebound or correction.
The current level is critical for determining the market direction; the breakout or hold of the 3.80% level will shape the future of USDT dominance and its impact on the crypto market.
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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.