A popular crypto analyst, Rekt Capital, believes Ethereum (ETH) is poised for further gains after showing stability around $4,000 for two consecutive weeks. The analyst noted that ETH successfully retested its breakout level and now sees potential for a rally toward $4,542 if this support holds. ETH is currently priced at $3,956, marking a 28% increase over the past month.

Despite Ethereum’s potential, Rekt Capital highlighted that Bitcoin (BTC) might continue to outperform altcoins, as Bitcoin dominance (BTC.D) is rising again. BTC.D currently stands at 57.80%, and reclaiming the 57.68% support level could strengthen BTC’s position and signal a continued “Bitcoin Season.”

However, the analyst also warned that Bitcoin may be due for a correction based on historical trends. In previous bull cycles, BTC experienced notable pullbacks during its price discovery phase:
– In 2013, a pullback in week seven.
– In 2017, a 34% retrace in week eight.
– In 2021, a 16% drop in week six.

These corrections are typical in Bitcoin’s cycle, especially around halving events. Currently, BTC is trading at $106,972, up 18% in the last 30 days.