USDT dominance consolidates below the 50 SMA (red line) and the descending resistance trendline. This structure highlights the continued bearish outlook while emphasizing key technical levels.
The 50-period Simple Moving Average is rejecting the price, further validating the downtrend.
This rejection aligns with the descending resistance trendline.
The horizontal support area near 4.19% remains crucial. A breakdown below this level will likely lead to a sharp decline, indicating a shift in market liquidity.
Dominance continues to form lower highs, indicating bearish momentum and less buying pressure.
The green arrow indicates a potential move to the downside. It could confirm further bearish pressure if dominance fails to sustain above the trendline and breaks below 4.19%.
A breakdown below 4.19% would trigger bearish momentum, potentially reflecting growing confidence in risk assets like BTC and altcoins. However, any break above the 50 SMA and the descending trendline would invalidate the bearish bias and could signal a reversal. Keep a close eye on these levels for the next move.
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 50-period Simple Moving Average is rejecting the price, further validating the downtrend.
This rejection aligns with the descending resistance trendline.
The horizontal support area near 4.19% remains crucial. A breakdown below this level will likely lead to a sharp decline, indicating a shift in market liquidity.
Dominance continues to form lower highs, indicating bearish momentum and less buying pressure.
The green arrow indicates a potential move to the downside. It could confirm further bearish pressure if dominance fails to sustain above the trendline and breaks below 4.19%.
A breakdown below 4.19% would trigger bearish momentum, potentially reflecting growing confidence in risk assets like BTC and altcoins. However, any break above the 50 SMA and the descending trendline would invalidate the bearish bias and could signal a reversal. Keep a close eye on these levels for the next move.
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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