Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Top Analyst Decodes Hidden Bullish Signal Amid Red Markets: Details

Published 01/18/2024, 01:12 AM
Updated 01/18/2024, 01:15 AM
Top Analyst Decodes Hidden Bullish Signal Amid Red Markets: Details

  • Crypto Banter sees potential for a bull run despite the market downturn.
  • The USDT dominance chart is holding steady, suggesting untapped investment potential.
  • The analyst named tokens such as TAO, KLAY, BLUR, BEAM, FTM, and CHZ as altcoins to watch with potential upside.

Amid the dull state of the crypto market, with most coins largely falling in the red zones, the popular YouTube channel “Crypto Banter” has argued, based on a crucial indicator, that the market is still bullish.

The supporting indicator that the crypto analyst banked on was the stablecoin to volatile token metric. While acknowledging the presence of various factors influencing market dynamics, the host stressed the significance of carefully observing the USDT dominance chart.

Notably, the USDT dominance chart serves as a crucial metric revealing the ebb and flow of funds between stablecoins and the broader crypto market. The host pointed out that despite minor fluctuations, the USDT dominance has not yet broken through a critical resistance level. This observation is seen as a key factor in predicting potential shifts in investment behavior and favorable spot entry.

The post Top Analyst Decodes Hidden Bullish Signal Amid Red Markets: Details appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.