USDT Dominance at Crossroads: Breakout or Breakdown?
The USDT Dominance chart is presenting a critical juncture, as it bounces off a key demand zone within a descending triangle pattern. The 200-day Moving Average (MA) looms as a formidable resistance level, while a breakdown below support could signal a significant shift.
A decisive breakout above the resistance would likely indicate a continuation of USDT's dominance. Conversely, a breakdown below the support level could trigger a decline in USDT's dominance, potentially ushering in a bullish wave across the broader cryptocurrency market, given their historically inverse relationship.