The Hourly View for Tether
- At the time of this writing, USDT’s price is down $0 (-0.1%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as Tether has now gone down 4 of the past 5 hours.
- From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
- Most noteworthy in the world of moving averages on the hourly chart is that the 100, 200 and 50 hour moving averages have been crossed, so that price is now turning below them. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Tether’s hourly price chart is shown below.
The Daily View for Tether
- USDT’s 1 price in the day prior was especially unusual given the typical amount recorded over the past 30 day.
- This is a reversal of the price action on the previous day, in which price moved up.
- As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
- Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
- Divergence between USDT’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in USDT’s price.
Below is a daily price chart of Tether.
The Latest From USDT’s Blockchain
- USDT has a number of daily new addresses of 13847, down 11.19% from its value day prior.
- Over the past 29 weeks, the trend for USDT’s average transaction value has been choppy and unclear. It has oscillated between 19331.1301 and 203412.1019.
- USDT’s average transaction value now stands at 24209.4636.
Featured Tether Idea From TradingView
Below is a trading comment entitled Ethereum – “FOMO” is likely to punish buyers you may find interesting:
For about a month now, we repeated that bullish calls for a trend reversal and bottom were false. We continue to stick to this narrative also today. Indeed, recently, we noted that the price of Ethereum started to appear attractive for short position (re)entry in the range between 1500 USD – 1600 USD and above. We believe drying up liquidity in the market suggests trouble ahead with institutional players utilizing the recent bounce to sell their positions. In addition to that, higher interest rates, a weakening economy, and regulatory obstacles continue to threaten the cryptocurrency market.As a result, we think the bear market rally nears its end. Therefore, in accordance with our assessment, we would like to set a price target for ETHUSD at 1 000 USD. Illustration 1.01 https://www.tradingview.com/x/uC4KDBAu/Illustration 1.01 shows the daily chart of ETHUSD. Yellow arrows indicate three bullish breakouts and one bearish retracement. White horizontal lines indicate support and resistance levels. Systemic cracks The list of affected companies and concise description:1. Voyager (bankrupt) – defaulted on $350 million in the U.S. dollar-pegged stablecoin, USDC , and 15,250 bitcoin .2. Zipmex (bankrupt)3. 3 Arrow Capital (bankrupt) – filed for bankruptcy and its founders went missing.4…