#TetherDominance #USDT #USDTD
Sell at resistance, buy at support. Tether Dominance peaked 21-November at 6.75%. A lower high came in at 6.61% 18-Dec and we have a new lower high yesterday. The action is clearly happening at resistance. The bearish bias is really strong here and only becoming stronger with each passing day.
When we look at Bitcoin Dominance (BTCDOM), there is a huge difference with this chart. BTCDOM produced a major drop and started to recover. While it is challenging resistance with a bearish bias, the action is coming from a low point, which means that the end result can be mixed. Conditions are much different with USDT.D.
Tether Dominance is trading near its highest point since August 2024. This resistance zone has been confirmed multiple times. Coming from a major high, resistance confirmed, the probabilities of a major drop are just too great.
The Tether Dominance index continues to support a strong bullish cycle on the altcoins market. Also a strong bullish jump on Bitcoin as people move their USDT to buy other coins.
The last lower high remained within the upper-descending trendline mapped on the chart. Yesterday's candle closed as a Doji giving further strength to a bearish move.
The fact that trading volume has gone this low, the lowest since April, means that the next move will be sudden and very strong.
Position yourself now.
Thanks a lot for your continued support.
Namaste.
