USDT Dominance at a Critical Turning Point–Will Correction Begin

In my previous analysis, I highlighted that USDT dominance had likely completed a 5-wave Elliott structure around 4.60%–4.65%, suggesting that a corrective ABC decline could follow.
That call played out accurately, with dominance stalling right at the projected resistance zone.

🔎 Current Update:
• Price has now hit the top of the larger descending channel as well as the upper boundary of the short-term rising channel → creating a confluence resistance near 4.70%.
• This level remains a high-probability reversal zone.

📊 Scenarios:
• 🔻 Bearish (More Likely):
Rejection from 4.65%–4.70% could confirm the corrective ABC pattern, targeting 4.30%–4.20% next.
👉 This would signal capital rotation back into crypto & altcoins.
• 🟢 Bullish (Alternative):
A confirmed breakout above 4.70% would open the door toward 4.90%, extending pressure on the crypto market.

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📌 Conclusion:
Given the technical confluence, the odds still favor a pullback in USDT dominance, which could give altcoins some room to breathe in the coming sessions.