A well-known crypto analyst is predicting a major catalyst that could send the altcoin market soaring for months. Rekt Capital, who has a large following on YouTube, believes that if Ethereum (ETH) breaks through a key resistance level, it could lead to life-changing opportunities for investors.
According to Rekt Capital, Ethereum needs to surpass the $4,000 mark in order to ignite massive rallies in the altcoin market. He explains that successful retests and weekly closes above this level have historically led to new all-time highs for Ethereum, which in turn have triggered significant rallies in other altcoins.
At the time of writing, Ethereum is trading at $3,595, but Rekt Capital is optimistic that a breakthrough could be on the horizon. He points to a chart that excludes the top ten coins and measures the strength of the altcoin market. This chart suggests that altcoins could experience a surge similar to what was seen in 2021 if certain key levels are breached.
Rekt Capital emphasizes the importance of holding key levels for a sustained period to enable further upside potential in the altcoin market. He believes that a move from $315 billion to $425 billion is possible if current levels are maintained, which could lead to significant gains for altcoin investors.
Overall, Rekt Capital is bullish on the altcoin market and believes that Ethereum breaking through key resistance levels could be the catalyst needed to propel the entire market to new heights. Investors are advised to keep a close eye on Ethereum’s price action in the coming weeks as it could have a significant impact on the altcoin market as a whole.