Altcoins flipping necessary USDT levels as support

Altcoins flipping necessary USDT levels as support

Gate Trade News Sunday, January 12, 2020 9 0

How are altcoins performing recently? They are doing reasonably well against their USDT pairs. If people want to trade altcoins, it’s compulsory to use both BTC and USDT charts as that would give a clear view of the movements of the coin.

Ether (ETH) provided an excellent breakout upwards in the USDT pair recently, as the chart below shows.

 

ETH made a clear break of the $133 level, pushing price towards $145. A similar retest occurred and provided a good bounce, which means that buyers stepped in at $135 and confirmed this as the new support.

The price of Ether is currently also hovering below the downwards trendline. If the price can break out to the upside, targets of $167 and $190 are on the table.