Tether (USDT): Oversold and finding support
dragononcrypto Pro Updated
KRAKEN:USDTUSD Tether USD
Analyzing the USDTUSD 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.