Rekt Capital, an influential analyst, suggests that an altcoin rally may occur if the altcoin market cap secures a weekly close above $250 billion.
A breakout rally towards the $315 billion level could be expected if the $250 billion level is surpassed, indicating the bottom for altcoins has potentially been established.
The ongoing correction in the altcoin market is relatively shallow, indicating a growing market maturity among altcoins and a potential stronger push from bulls.
The possibility of a breakout is further supported by the weakening resistance at the $425 billion altcoin market cap.