dragononcrypto

Tether (USDT): Oversold and finding support

Long
KRAKEN:USDTUSD   Tether USD / U. S. Dollar
Analyzing the Tether Price from Kracken, where according to cryptocompare, 90% of the volume derives from. The stable coin everyone's talking about that dropped 15% against USD. Will it tether back to $1?

  • Tether is finding support at the early 2018 levels of $0.94. It is currently 4.6% away from it's $1 value.
  • Daily TD Sequential is on a 9, hinting a reversal is due, with RSI deeply ovesold at 18-month record low of 7.5.
  • 2% stop loss is set below the daily low of $0.9428. If it falls below it's daily low, it's in big trouble.
Comment: This should probably help the Tether price, fundamentally speaking:
https://cointelegraph.com/news/report-bi...