One cryptocurrency strategist who correctly called Bitcoin’s (BTC) halving correction believes that altcoins are close to taking center stage.
Household analyst Rekt Capital told his 473,400 followers on social media platform I said there is.
According to Rekt, OTHERS appears to be following the script he laid out in February, which suggests the broader altcoin market is poised for a gain of around 42% from current levels of $297.5 billion.
“Altcoin market caps have hit their highest weekly close since early April 2024. They are also perfectly following the ultimate altcoin market cap game plan outlined earlier this year.”
Looking at Rekt’s chart, he seems to be predicting that OTHERS will rise to weekly resistance of $425 billion.
As for the timeline of the altcoin surge, Rekt believes that once Ethereum (ETH) takes a breather, there will be a capital flight into altcoins.
“I’m not sure yet. ETH The rally is over, but when will it be? ETH After a breakout move fueled by exchange-traded funds (ETFs), consolidation is poised… Altcoins should be able to benefit from newfound funding flows.”
Looking at Ethereum itself, Rekt said the leading layer 1 platform is firmly positioned for a move above $4,000, with ETH bulls now having momentum above the $3,300 resistance area at the weekly close.
“ETH A lot of time was spent around the low (~$2791) circled in orange. This is historically ahead of the uptrend to ~$4,000 (green). A weekly close above the orange box seems inevitable and will confirm that the bulls have regained momentum.”
As of this writing, Ethereum is trading at $3,888.
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