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Price Analysis

Tether Endures Holding the Stable Ranking with Just 0.3% Downtrend in Last 5 Days

Celsius Network, which is the industry-leading Cryptocurrency platform, recently increased their interest rates for the stable coins. The deposit will now cost interest rate of 12.03% APR. Tether is one of the stable coins that Celsius Network is supporting along with PAX, USDC, DAI, TUSD, and GUSD.

Tether Price
Tether Chart By TradingView

Considering the data from the last 5 days, USDT was initially seen trading at the highest price point of $1.0019 as on September 15, 2019, at 05:00 UTC. The value was then dropped marginally by 0.56% on September 17, 2019 at 11:20 UTC, to the lowest point in last 5 days pushing it to the trading price of $0.9963.

Yesterday, around 04:00 UTC, the price of Tether escalated by 0.46% trading at $1.0010. From then on, the current trading current value is dropped by 0.29%.

Since last few days, Tether had maintained an upward trend. However, few downtrends were noticed in last 2 days that took the price below the baseline. However, currently USDT value is fluctuating around the pivot point.

Keeping in mind the current volatility of the market and the nature of the coin, we think that the short-term investment will be a carefree one.

USDT Price
USDT Price Chart

While the long-term investment in USDT needs all eyes on the board to hit at the right time. Also, USDT being a stable coin, its value will more or less trade around a similar price range.

USDT Price Chart
USDT Price Chart

Since the coin is currently around the pivot price mark, the immediate resistance level and support level play an important role.

Resistance Levels:

R1: $1.01, R2: $1.01, R3: $1.02

Support Levels:

S1: $1, S2: 0.99, S3: 0.99

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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