TUSD/USDT: TrueUSD short-lived pump coming to an end
15/10/2018
- Chart shows an over-extended rally peaking to a ridiculous $1.24 for TrueUSD against Tether.
- RSI on the Daily chart is still overbought at 85 with an RSI double top appearing on the 4 and 6-hour.
- TD Sequential on the 4-hour showing a 9, so expect a 1-4 candle correction, at minimum.
- Major support between $1.03 and $1.04 will be the key level to watch to determine further.
Given this is one of the first stable coin pairings in existence, this is an epic fail to put it lightly.
Tether (USDT): Oversold and finding support
16/10/2018
Analyzing the Tether 0.07% Price from Kracken, where according to cryptocompare, 90% of the volume derives from. The stable coin everyone's talking about that dropped 15% against USD. Will it tether back to $1?
- Tether is finding support at the early 2018 levels of $0.94. It is currently 4.6% away from it's $1 value.
- Daily TD 1.21% Sequential is on a 9, hinting a reversal is due, with RSI deeply ovesold at 18-month record low of 7.5.
- 2% stop loss is set below the daily low of $0.9428. If it falls below it's daily low, it's in big trouble.
