TUSD/USDT: TrueUSD short-lived pump coming to an end

TUSDUSDT

• 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.

Kommentar:

The price is now entering the $1.03-1.04 level. If purged, next support is $1.02 that it's likely to hold for some time as Tether recovers, before likely leveling out to $1.