2024-10-22 18:58:18

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DOMINANCE ANALYSIS #USDT

USDT Dominance broke out of the ascending triangle and successfully tested the breakout level, while the 50MA and 21MA signal a bearish impulse as they now act as resistance barriers.

This indicates a possible continuation of the downward trend, signaling a weakening of the dominance of stablecoins in the market.

Since USDT dominance often has an inverse relationship with the broader cryptocurrency market, a decrease in dominance may indicate a strengthening of buyer pressure on altcoins and a positive shift in market sentiment.

This makes the current level a key area to monitor potential market reversals or cryptocurrency uptrends.

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