USDT Dominance Showing Signs of Continued Strength
Perhaps one of the most underrated market indicators, USDT.D is showing classic signs of accumulation and remains in a well established uptrend dating back to 2018.
The ascending triangle pattern suggests another market move is on the horizon. If this plays out to the upside for USDT.D then crypto market participants can expect volatility in the markets favoring traders with short positions established. To give this pattern a little added strength, the MACD histogram also shows signs of hidden bullish divergence on the oscillator.
Of course, no one knows for certainty where this market (or any market) is heading in the near future, however, with indications like this one, witnessing a negative move downward in crypto prices would not come as a surprise.
The ascending triangle pattern suggests another market move is on the horizon. If this plays out to the upside for USDT.D then crypto market participants can expect volatility in the markets favoring traders with short positions established. To give this pattern a little added strength, the MACD histogram also shows signs of hidden bullish divergence on the oscillator.
Of course, no one knows for certainty where this market (or any market) is heading in the near future, however, with indications like this one, witnessing a negative move downward in crypto prices would not come as a surprise.