A crypto analyst known as Rekt Capital believes that if Ethereum (ETH) breaks through a key resistance level of $4,000, it could lead to a significant influx of money into altcoins.
The analyst suggests that Ethereum breaking out to new all-time highs would serve as a major technical catalyst for altcoin rallies.
The successful retest of $4,000 as support could enable a revisit of old all-time highs and potentially rally to new all-time highs and price discovery.
The analyst also indicates that the altcoin market may experience a surge similar to 2021 if it manages to hold a certain region for a few weeks.