The accusations against Tether and Bitfinex for participating in a cover-up operation to hide the loss of about 850 million plunged the market.
Actual support/resistance: $5'100/$5'200
This is not the first time that Tether and Bitfinex have faced allegations. The stable coin Tether (which is pegged to the dollar), allows you to substitute the dollar. A key role for traders. If these allegations of fraud are verified, the market would likely suffer. This unpredictable movement, triggered by a news, caused the market to lose nearly 10 billion in total captalization. For the first time since the end of March, the price has fallen below the 20-day moving average. After testing the $5'000 support level, the price recovered and stabilized above $5'100.
The RSI(14) is in a neutral region and the MACD lines show a clear divergence.
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