Tether Trend May Be Changing as Price Just Breached Above Its 20 Day Moving Average

The Hourly View for Tether

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  • It’s been a feast for bears operating on an hourly timeframe, as Tether has now gone down 25 of the past 30 hours.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 100, 20, 200 and 50 hour moving averages, resulting in them with price now being below them. The moving averages on the hourly 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.

Tether’s hourly price chart is shown below.

USDT

The Daily View for Tether

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  • Tether has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100, 20, 200 and 50 day moving averages have been crossed, with price now being below them. 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.

Below is a daily price chart of Tether.

USDT

The Latest From USDT’s Blockchain

  • For USDT, its average transaction value is now at 50898.0049.
  • Over the past 29 weeks, the trend for USDT’s count of active addresses has been choppy and unclear. It has oscillated between 56096 and 143948.
  • USDT has a number of daily new addresses of 19785, up 21.75% from its value day prior.