Tether's Market Cap Nears Ethereum, Potential Flip Ahead
- Market Cap Rivalry: As of June 5, 2026, Tether's (USDT) market cap stands at approximately $187.4 billion, while Ethereum (ETH) trades above $1,600, with the gap narrowing to between $6 billion and $10 billion, significantly increasing market attention.
- Price Volatility Impact: If Ethereum's price drops to around $1,550, its market cap would fall below Tether's current level; Ethereum has already declined about 25% over the past 30 days, making such a flip credible rather than theoretical.
- Stablecoin Market Share: Tether's circulating supply has climbed to approximately $189.7 billion, maintaining about 60% of the stablecoin market, with each new batch of minted tokens increasing its market cap equivalently, showcasing growth potential independent of price action.
- Financial Robustness: Tether posted approximately $1.04 billion in net profit for Q1 2026, with excess reserves reaching an all-time high of $8.23 billion and total assets around $192 billion, indicating its capacity to expand supply further if demand continues to rise.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1099.859 | 1302.77 | 1487.249 | 1690.16 | 1874.639 | 2077.55 | 2262.029 |
| Fibonacci | 1302.77 | 1450.753 | 1542.177 | 1690.16 | 1838.143 | 1929.567 | 2077.55 |
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