** CRYT RALLY
As the cryptocurrency market continues to show signs of an optimistic trend, one of the most negotiated and respected assets, Tether (USDT) emerged as a key factor of this upward moment. With its status Stablecoin and widespread adoption in various sectors, USDT has become an essential component in many investor portfolios.
Technical indicators played a significant role in the formation of the recent bull race, with various levels and standards coming into play. As we go deeper into the details, it is clear that USDT’s upward trajectory is still its challenges.
The rise of the rope (USDT)
Tether, supported by the US Federal Reserve, has been one of the most stable cryptocurrencies in recent years. Despite facing criticism of its lack of transparency and potential correlation with traditional assets such as gold, Tether remains a popular choice among investors who seek to diversify their portfolios.
In May 2018, Tether’s controlling company, Bitfinex, was involved in a high level scandal that led to the shift of the exchange. However, in August 2020, the US government announced that it would no longer require Bitfinex and its sister company Ifinex (previously known as Binance) to provide guarantees for Tether’s Stablecoin Holdings.
This significant change in the regulatory environment has allowed Tether to recover its foot, with the asset now negotiating at a significant price higher than when the controversy around it first appeared. As investors continue to gather, demand is increasing the price, feeding an upward trend that will probably persist in the coming weeks and months.
Technical Indicators showing Momentum Bullish
Several technical indicators contributed to the optimistic impulse that boosted the highest USDT:
- Relative Strength Index (RSI)
: The RSI indicator showed a sharp high trend since its low, indicating high purchase pressure at USDT.
- MOCD Average Convergence Divergence (MACD) : MACD is in a strong upward trend, suggesting that the price of the USDT will probably continue to increase.
- Bollinger Bands : Bollinger bands are expanding, indicating increased volatility and further feeding the optimistic moment.
Conclusion
As Tether continues to rise, technical indicators such as RSI, MACD and Bollinger Bands are providing a clear image of a strong upward trend. Although investors should always be cautious about negotiating cryptocurrencies, Tether’s price movement running bulls has an attractive opportunity for those willing to take market risks.
However, it is essential to remember that the cryptocurrency market is inherently volatile and subject to significant price changes. As with any investment, complete surveys and risk management are crucial before entering the market.
Responsibility Exemption: This article should not be considered as an investment consultancy and only informative purposes is intended. Always do your own research and consider several factors before making investment decisions in the cryptocurrency market.