Crypto traders have noticed similar signals in USDT dominance as observed in October 2024, which might indicate an upcoming altcoin rally.
Signals of Preceding Altcoin Rally
Analysis of USDT dominance suggests that the current decline may echo the events of October 2024, when a decrease in dominance preceded the surge of altcoins.
RSI Decline and Its Significance
The downturn in RSI may indicate weakening strength of USDT holdings. This suggests that traders may be shifting towards more volatile assets, potentially leading to further decline in USDT dominance.
Bearish Pattern on USDT Dominance Chart
The presence of an ascending broadening wedge indicates bearish market sentiment on the USDT dominance chart, signaling traders to reconsider their positions towards altcoins.
Current market signals related to USDT dominance and RSI changes indicate potential opportunities for the growth of altcoins, forecasted to bring further alterations in market dynamics.
