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Ethereum: Assessing the odds of ETH descending lower than $1050

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.USDT Dominance is a metric that measures the market cap of the stablecoin Tether as a percentage of the total market cap.

This metric has risen from 5.7% to 8.13% in just over a week. At the same time, Ethereum and Bitcoin saw severe selling pressure and posted enormous losses within the past week.The market structure of ETH was bearish at the time of writing, and a move past $1300 would be required to flip bias to bullish.

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