Tether and TrueUSD vs The Dollar: Stable Coin Analysis
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.
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.
Both USDT & TUSD is a good stablecoin but as of the moment tusd is starting to get well known and actually they are having a 99% trading fee discount on their new added market.