Altcoin market needs this week's close to rally strongly

Last week, altcoins experienced significant gains, led by Ethereum’s (ETH)

On the other hand, the price of Bitcoin

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The altcoin market needs this week’s close to rally strongly

Renowned cryptocurrency analyst Rekt Capital has shared an optimistic view of the altcoin market. He stated that if the total market capitalization (excluding the top ten altcoins) can close above $250 billion, it will likely pave the way for a breakout rally to at least $315 billion.

A weekly close like this would confirm that the altcoin has bottomed and mark the end of the current market correction which stands at -61%. This correction, according to Rekt Capital, is shallower than previous market retracements that reached -69% and -85%, showing the increasing resilience of the altcoin market.

Additionally, the analyst highlighted that the $425 billion resistance level appears to be weakening as a point of rejection. A revisit in the future could greatly increase the chances of breaking that critical level.

Read also: Ethereum (ETH) Surges 40% in 7 Days, Will the Uptrend Continue?

Merlijn The Trader’s Warning Amid Altseason Anticipation

Crypto analyst Merlijn The Trader has cautioned investors amid growing anticipation of altseason. The analyst highlighted Bitcoin’s (BTC) decline in dominance, a key metric that often signals capital rotation into altcoins.

Furthermore, the analyst emphasized the importance of timing in this market cycle, reminding traders to “rotate early or risk buying at the