A popular crypto analyst, Rekt Capital, predicts a massive surge in altcoin prices if Ethereum (ETH) breaks a key resistance level. He shared this prediction with his 100,000 YouTube followers.
Ethereum’s Key Role
Rekt Capital claims that if ETH surpasses $4,000, it could trigger a months-long altcoin rally. He explains that successful weekly closes and retests above this level are crucial. Breaking through $4,000 would likely lead to ETH hitting new all-time highs, pulling other altcoins along for the ride. He suggests that a move to $4,500 would follow a weekly close above $4,000 and a retest of that level as support.
At the time of writing, ETH is trading around $3,595.
Altcoin Market Cap to Explode?
Rekt Capital also points to a chart showing the total crypto market cap excluding the top ten coins (a measure of altcoin market strength). He believes that if this metric successfully retests and holds above a certain level (around $315 billion), it could signal a massive increase to around $425 billion, mirroring a similar surge seen in 2021. He suggests that holding this level for several weeks would be a positive sign.
Disclaimer: This is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before investing./p>
