USDC USDT USD Coin Technical Analysis

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By Frans van Elst

USD Coin logo In this USD Coin technical analysis, we will examine the current price action, trading volume, key levels and indicators for USDC-USDT. USD Coin is a stablecoin that is pegged to the value of the US dollar, providing a more stable and predictable store of value for users compared to other cryptocurrencies. It offers fast and secure transactions, with low fees and high liquidity, making it an attractive option for those looking for a reliable digital asset. Additionally, USDC is collateralized by a reserve fund that ensures its stability and trustworthiness, giving users peace of mind when using the cryptocurrency for transactions or investments.

USD Coin Price Overview:

As of May 17, 2024, USD Coin is trading at approximately 0.9997 USDT. Let’s dive into the detailed price action for USDC-USDT:

Follow potential bearish trend for USD Coin (USDCUSDT) at 1.00e+00 USDT with technical analysis, indicating cautionary indicators and weakened support.

Metric Value
Open (O) 0.9999
High (H) 1.0001
Low (L) 0.9996
Close (C) 0.9997
Volume (C) 464,718,268.00
  • Open (O): The opening price for today’s trading session was approximately 0.9999 USDT.
  • High (H): USD Coin reached a daily high of around 1.0001 USDT.
  • Low (L): The daily low for USDC-USDT was approximately 0.9996 USDT.
  • Close (C): At the time of analysis, USD Coin is trading near its daily close of 0.9997 USDT.
Metric Value
1D Change (%) -0.02%
3D Change (%) -0.07%
7D Change (%) -0.05%
30D Change (%) -0.03%
90D Change (%) 0.00%
YTD Change (%) -0.06%

Over the past three days, USDCUSDT has dropped by approximately -0.07%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -0.05%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with USDCUSDT maintaining a downward trend of approximately -0.03%, despite intermittent fluctuations. Examining the last 90 days, USDCUSDT has witnessed substantial decrease of approximately 0.00%, reflecting strong long-term confidence. Year-to-date, USDCUSDT has steadily dropped by around -0.06%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

USD Coin Live Chart:

You can access a live price chart for USDC-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.00739.
  • Momentum score is -0.0006.

USDC USDT Technical Analysis

USD Coin Trading Volume:

The trading volume for USD Coin (USDC) over the past 24 hours has been insignificant, with approximately 464,718,268.00 USDT traded against USDC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): USDC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): USD Coin is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for USDC-USDT is currently in the neutral zone, around 48.52575. This suggests that USD Coin is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

USD Coin (USDC-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Follow potential bearish trend for USD Coin (USDCUSDT) at 1.00e+00 USDT with technical analysis, indicating cautionary indicators and weakened support.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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