Ethereum Surges Past $4,200, Sparking Speculation on Potential Altcoin Rally as Traders Eye Key Resistance Levels

Key Points

1. Ethereum's price reached $4,200, the highest since December 2021, following a breakout in the ETH/BTC pair.

2. ETH/BTC broke long-term resistance at 0.0300 BTC, climbing to 0.03590 BTC, a gain of over 60% from the breakout level.

3. Traders are watching the 0.0400 BTC mark, historically linked to strong Ethereum-led rallies, as a potential next target.

4. The ETH/BTC breakout is seen as a bullish signal for altcoins, with optimism growing for a broader altcoin rally.

5. Analysts suggest Ethereum's price could rally toward $5,000 if Bitcoin's price remains stable near $125,000.