Rekt Capital, one of the leading analysts in the crypto market, stated that the price stability that Ethereum (ETH) has displayed over the past two weeks has created a solid foundation for a future rally.
The analyst stated that the $4,000 level is strongly protected as support on Ethereum’s weekly charts and that continuing to stay above this level could push the price even higher.
Ethereum Heads Towards $4,542 Target
Rekt Capital said in a statement on the X platform that Ethereum has successfully retested the $4,000 level and that this support plays a critical role in the price moving higher:
“ETH: The retest after the breakout was successful. This led to a test of the $4,000 level. Ethereum is holding this level as support for the second week in a row. This price stability could open the door to a new rally.”
According to the chart shared by the analyst, Ethereum’s next target could be an increase towards the $4,542 level.
Rekt Capital also noted that Bitcoin could continue to show strong performance against altcoins. Stating that the increase observed in the BTC.D rate, which shows Bitcoin's market dominance, continues, the analyst emphasized that this situation constitutes an important signal for the "Bitcoin Season":
“Bitcoin Dominance: BTC.D is seeing a significant recovery. If the 57.68% level is reclaimed as support, Bitcoin dominance could re-enter a broader macro uptrend.”
