Thoughts on USDT/IDR and on-ramp friction

Been looking at USDT/IDR today, and that 28.93 level feels like a bit of a psychological brick wall right now. We've seen it test that resistance a couple of times already. The daily range is pretty tight, 28.6369–29.43, suggesting some indecision, but the -2.95% on the day is hard to ignore.

My take is if we can get a sustained break above 29.00, we might see some decent momentum pick up, potentially targeting that 29.43 high again. But honestly, if it dips much further below 28.60, especially with conviction, I'd expect it to unwind pretty quickly. The risk here is obviously a broader market shift away from USD-pegged stablecoins, or just more IDR strength if the local sentiment improves drastically. Also, on-ramp friction for IDR to stablecoins is still a pain for many, and that can really cap upward movement if there's less incentive for new money to flow in.