The chart shows a symmetrical triangle formation, indicating a potential breakout scenario.
A break to the downside could lead to a significant decrease in USDT dominance, as the chart’s measured move suggests.
A breakdown from current levels could result in a drop to 18.77%, aiming to move towards 3.50% dominance.
Breakdown Scenario:
If the dominance breaks below 4.30%, expect a drop towards 3.50%.
This could be in line with a bullish scenario for the altcoin, as a decrease in USDT dominance often signals capital inflows into crypto assets.
A move above 4.40% would invalidate the bearish setup and could signal further consolidation or an upside breakout.
A drop in USDT dominance often correlates with altcoin rallies, as traders allocate capital to riskier assets.
Wait for a confirmed breakout or breakdown with adequate volume before entering any position.
Disclaimer:
Chart patterns provide probabilities, not guarantees. Do additional research and ensure proper risk management before taking action.
Let me know if you’d like further assistance or adjustments!
DYOR. NFA
A break to the downside could lead to a significant decrease in USDT dominance, as the chart’s measured move suggests.
A breakdown from current levels could result in a drop to 18.77%, aiming to move towards 3.50% dominance.
Breakdown Scenario:
If the dominance breaks below 4.30%, expect a drop towards 3.50%.
This could be in line with a bullish scenario for the altcoin, as a decrease in USDT dominance often signals capital inflows into crypto assets.
A move above 4.40% would invalidate the bearish setup and could signal further consolidation or an upside breakout.
A drop in USDT dominance often correlates with altcoin rallies, as traders allocate capital to riskier assets.
Wait for a confirmed breakout or breakdown with adequate volume before entering any position.
Disclaimer:
Chart patterns provide probabilities, not guarantees. Do additional research and ensure proper risk management before taking action.
Let me know if you’d like further assistance or adjustments!
DYOR. NFA
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