📚Tether (USDT) Dominance(USDT.D) is a metric that shows how much of the money is on USDT. It is inversely proportional to market movements, and if it dumps, the market will pump, and vice versa.
🏃♂️USDT.D is moving near the 🟢Support zone(6.74%_6.69%)🟢 and has tried 5 times to break this zone and failed each time.
📚In general, the more times the Support or Resistance zone is attacked, the more Important that zone increases.
🌊According to the theory of Elliott waves, USDT.D has succeeded in completing microwave B of the main wave 4 in the 🟢Support zone(6.74%_6.69%)🟢.
🌊The structure of microwave B is of Regular Flat(ABC/3-3-5), so microwave C of microwave B of the main wave 4 had an Ending Diagonal structure.
💡Also, we can see Regular Divergence(RD+) between two Consecutive valleys.
🔔I expect USDT.D will go UP after the breaking of the upper line of the Ending Diagonal.
🔔As a result, the Cryptocurrency market will most likely experience a temporary ⚠️Downward Trend⚠️ in the coming days, and after the completion of the main wave 4, I expect the market to turn 🟢Green🟢 again.
Market Cap USDT Dominance% Analyze (USDT.D) 1-hour time frame⏰.
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