Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Ethereum’s Breakout Could Trigger Explosive Altcoin Rally, Analyst States

Ethereum’s Breakout Could Trigger Explosive Altcoin Rally, Analyst States

Cryptodnes2024/12/02 01:44
By:Cryptodnes

A well-known crypto expert believes a single key event could spark a significant and prolonged rally in the altcoin market.

Rekt Capital shared that Ethereum ( ETH ) breaking a crucial resistance level could lead to transformative months ahead.

They pointed out that a breakout beyond this resistance would likely attract substantial capital into smaller altcoins. If Ethereum achieves a new all-time high, it could serve as a major technical trigger for widespread altcoin growth.

The analyst identified $4,000 as the critical level for Ethereum to surpass, suggesting that sustained weekly closes and retests at this point could propel the price toward $4,500. Beyond that, Ethereum could revisit previous peaks and enter a phase of price discovery, driving the market to new highs.

READ MORE:
Memecoin Trader Makes 38,399x Return on His Investment – Here is How

In addition to Ethereum, the analyst examined a chart tracking the total market cap of cryptocurrencies outside the top ten, providing insights into altcoin momentum. They noted similarities to 2021, when the altcoin market experienced explosive growth.

According to the analyst, a successful retest at the current level of $315 billion could create conditions for a surge toward $425 billion. Holding this range for several weeks could be the foundation for a strong expansion in altcoin valuations.



0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Hackers are targeting Australia’s largest pension funds

Share link:In this post: Hackers targeted major Australian superannuation funds, stealing $500,000 from a few accounts and exposing personal data. Authorities and financial institutions are responding to the breach, urging members to check accounts and update passwords. Credential stuffing using stolen passwords is suspected in the attacks, prompting warnings to use unique logins and enable multifactor authentication.

Cryptopolitan2025/04/06 03:22

Meta to end third-party fact-checking in U.S. on April 7

Share link:In this post: Meta will shut down its U.S. third-party fact-checking program on April 7, 2025, ending partnerships with groups like PolitiFact. It will be replaced by Community Notes, a system that lets users add context to posts without triggering penalties. Zuckerberg criticized the old system as biased and overly censorious, and said the change aims to support free speech. Meta is also relocating its moderation teams to Texas, a move some experts say is politically motivated.

Cryptopolitan2025/04/06 03:22
Meta to end third-party fact-checking in U.S. on April 7