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Ethereum’s rise above the $4,000 mark could trigger a long-term upward trend in the altcoin market. Crypto analyst Rekt Capital states that if Ethereum 
$2,594 breaks through this critical level, it will lead to increased capital flow into smaller altcoins. The analyst believes that Ethereum’s upward momentum will have positive implications for the overall market.
Ethereum’s Struggle to Break the $4,000 Resistance
At the time of writing, Ethereum is trading at $3,595 and is preparing to test the $4,000 level. Rekt Capital mentioned that overcoming this resistance could restore investor confidence in the altcoin market. According to the analyst, a strong weekly closure will be essential for Ethereum to surpass this level. Furthermore, it is suggested that if this resistance level is maintained, Ethereum’s price could potentially rise to $4,500.
Past performances support the analyst’s predictions. Rekt Capital recalls that when Ethereum surpassed critical levels in previous years, it led to expansion in the altcoin market. He expressed that Ethereum’s performance could significantly influence the future movements of smaller altcoins. In this context, he emphasized the need for investors to base their decisions on technical analysis.
Altcoin Market Prepares for New Highs
If Ethereum exceeds $4,000, a significant revival in the altcoin market is anticipated. Rekt Capital noted that this could increase the total cryptocurrency market value. Specifically, it is expected that the market capitalization of altcoins outside the major cryptocurrencies could rise from $315 billion to $425 billion.
The analyst stated that if this scenario unfolds, investor confidence would grow, and market volume would expand. Rekt Capital pointed out that a similar process occurred in 2021, leading to a broader altcoin market, and he believes this year holds the same potential. It is indicated that Ethereum surpassing $4,000 would positively impact the overall health of the crypto market.
Rekt Capital sees Ethereum breaking this level as a significant turning point for the cryptocurrency market. He stresses the importance for investors to remain cautious and closely monitor market trends during this period. Clearly, Ethereum’s performance plays a decisive role in the future of the altcoin market.
