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USDT Dominance: an indicator to forecast Bitcoin’s directionUSD Tether, or USDT, came into existence as a digital version of the U.S. dollar, and it succeeded. USDT is pegged to the U.S. dollar and is the top and most used stable coin in the crypto market. USDT is also being used for transferring money or other means of payment, although mostly in the crypto market. Many others tried to capture a piece of this huge market: USDC, BUSD, DAI, TUSD, and UST. We all know what happened to the last one, UST (Terra USD) depegged from the U.S. dollar and crashed. Anyway, since USDT is the most used stable coin in the crypto market, its dominance can reveal important info about the crypto market, and mostly about the Bitcoin. So, let's start with the plain USDT Dominance chart; it shows the percentage of the total crypto markets in the form of USD Tether. As can be seen, the USDT Dominance chart shows two ascending channels. The first is steeper than the second, and the reason for that is Tether's totalitarian nature, as back then there were no other worthy competitors, and most notably its quick acceptance by the crypto community—the traders. Now, the second ascending channel is closer to the norm and, as such, can be used as a revealing indicator. It's easy, 1) when USDT Dominance goes down, that means most people are buying Tether, so there is a shortage of Tether in the market. 2) When USDT Dominance goes up, that means most people are selling Tether, so there is a surplus of Tether in the market. So what do these mean? When people are buying more Tether than before, USDT Dominance decreases, and that means they are converting their fiat money, such as U.S. dollars, Euro, British Pound, Franc, etc., to Tether in order to buy crypto assets such as Bitcoin. Now, here is the important part: If more people are converting their fiat money into Tether to buy crypto coins, the demand for crypto assets will go up, and when demand goes up, so does the price. When people are selling their crypto assets more than before, they are converting their crypto assets, such as Bitcoin, into Tether, so there is a surplus of Tether in the market, and as a result, the USDT Dominance increases. This happens when traders/people want to save profits or think the market could go into a downtrend/correction, so they sell their crypto assets and prefer to hold a stable coin like Tether. Here, the USDT Dominance chart is compared with the Bitcoin price chart. As can be seen, when USDT Dominance went down, the Bitcoin price went up, and vice versa. So, when the Bitcoin price was decreasing, more people were selling Bitcoin and converting their crypto assets into Tether; thus, more Tether became available in the market, and as a result, the USDT Dominance went up. The USDT Dominance chart can be used as a simple indicator to forecast Bitcoin's possible future movements.
CRYPTOCAP:USDT.D
by SaeedSalehinia
5
SOL (Solana) FundamentalsSOLUSD is a trading pair that represents the price of Solana (SOL) cryptocurrency in US dollars (USD). It's available on various cryptocurrency exchanges, allowing traders and investors to buy, sell, or trade SOL using USD. Here are some key fundamentals to consider when analyzing SOLUSD: SOL (Solana) Fundamentals Technology: Solana is a high-performance blockchain platform known for its fast transaction speeds and low fees. It uses a unique Proof-of-History (PoH) consensus mechanism to achieve this. Scalability: Solana's design aims to handle a large number of transactions per second, making it suitable for various decentralized applications (dApps). Ecosystem: Solana has a growing ecosystem of dApps, including DeFi protocols, NFT marketplaces, and gaming platforms. Tokenomics: SOL is the native cryptocurrency of the Solana network, used for fees, staking, and governance. Factors Affecting SOLUSD Price Market Sentiment: Overall market sentiment towards cryptocurrencies and Solana in particular can significantly impact the price of SOLUSD. Network Performance: Any issues or disruptions on the Solana network can negatively affect the price. Developer Activity: The level of development activity on the Solana platform can influence investor sentiment and price. Regulatory Environment: Changes in regulations regarding cryptocurrencies can impact the price of SOLUSD. Competition: Competition from other blockchain platforms, such as Ethereum, can affect Solana's market share and price. How to Analyze SOLUSD Technical Analysis: This involves studying price charts, patterns, and indicators to predict future price movements. Fundamental Analysis: This focuses on analyzing the underlying factors that affect SOLUSD's value, such as network performance, ecosystem growth, and market sentiment. Where to Trade SOLUSD You can trade SOLUSD on various cryptocurrency exchanges, including: Binance Coinbase FTX Kraken Important Considerations Volatility: Cryptocurrencies, including SOL, are known for their high volatility. This means that the price of SOLUSD can fluctuate significantly in a short period. Risk: Investing in cryptocurrencies carries inherent risks, including market volatility, security risks, and regulatory uncertainty. Do Your Own Research (DYOR): Before investing in SOLUSD, it's crucial to conduct thorough research and understand the risks involved. Disclaimer: This information is not financial advice. Please consult with a financial advisor before making any investment decisions.
BINANCE:SOLUSD
by ITManager_US
1
SOLUSD is a tradingSOLUSD is a trading pair that represents the price of Solana (SOL) cryptocurrency in US dollars (USD). It's available on various cryptocurrency exchanges, allowing traders and investors to buy, sell, or trade SOL using USD. Here are some key fundamentals to consider when analyzing SOLUSD: SOL (Solana) Fundamentals Technology: Solana is a high-performance blockchain platform known for its fast transaction speeds and low fees. It uses a unique Proof-of-History (PoH) consensus mechanism to achieve this. Scalability: Solana's design aims to handle a large number of transactions per second, making it suitable for various decentralized applications (dApps). Ecosystem: Solana has a growing ecosystem of dApps, including DeFi protocols, NFT marketplaces, and gaming platforms. Tokenomics: SOL is the native cryptocurrency of the Solana network, used for fees, staking, and governance. Factors Affecting SOLUSD Price Market Sentiment: Overall market sentiment towards cryptocurrencies and Solana in particular can significantly impact the price of SOLUSD. Network Performance: Any issues or disruptions on the Solana network can negatively affect the price. Developer Activity: The level of development activity on the Solana platform can influence investor sentiment and price. Regulatory Environment: Changes in regulations regarding cryptocurrencies can impact the price of SOLUSD. Competition: Competition from other blockchain platforms, such as Ethereum, can affect Solana's market share and price. How to Analyze SOLUSD Technical Analysis: This involves studying price charts, patterns, and indicators to predict future price movements. Fundamental Analysis: This focuses on analyzing the underlying factors that affect SOLUSD's value, such as network performance, ecosystem growth, and market sentiment. Where to Trade SOLUSD You can trade SOLUSD on various cryptocurrency exchanges, including: Binance Coinbase FTX Kraken Important Considerations Volatility: Cryptocurrencies, including SOL, are known for their high volatility. This means that the price of SOLUSD can fluctuate significantly in a short period. Risk: Investing in cryptocurrencies carries inherent risks, including market volatility, security risks, and regulatory uncertainty. Do Your Own Research (DYOR): Before investing in SOLUSD, it's crucial to conduct thorough research and understand the risks involved. Disclaimer: This information is not financial advice. Please consult with a financial advisor before making any investment decisions.
BINANCE:SOLUSD
by ITManager_US
1
US500 Will Go Higher! Long! Please, check our technical outlook for US500. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 5,902.9. Taking into consideration the structure & trend analysis, I believe that the market will reach 6,123.9 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
CAPITALCOM:US500Long
by SignalProvider
1
USOIL Will Go Down! Sell! Here is our detailed technical review for USOIL. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 69.181. Considering the today's price action, probabilities will be high to see a movement to 63.975. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
OANDA:WTICOUSDShort
by SignalProvider
1
USDCAD Will Move Higher! Buy! Take a look at our analysis for USDCAD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.396. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.403 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURAUD Is Bullish! Long! Please, check our technical outlook for EURAUD. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 1.619. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.625 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
DXY Will Move Lower! Short! Here is our detailed technical review for DXY. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 106.561. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 106.415 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYShort
by SignalProvider
1
GOLD Is Bearish! Sell! Take a look at our analysis for GOLD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 2,634.92. The above observations make me that the market will inevitably achieve 2,574.59 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
FOREXCOM:XAUUSDShort
by SignalProvider
1
EURUSD Is Very Bullish! Buy! Please, check our technical outlook for EURUSD. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.056. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.057 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPUSD Is Going Up! Long! Here is our detailed technical review for GBPUSD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.266. Considering the today's price action, probabilities will be high to see a movement to 1.281. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
AUDCHF Will Go Higher! Buy! Here is our detailed technical review for AUDCHF. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 0.573. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.576 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1