The video presents a technical analysis of the Ethereum (ETH) chart, suggesting that altcoin season will commence once Ethereum breaks a four-year resistance level on its weekly chart. The analyst identifies a resistance level, and states that a weekly candle closing above that resistance, supported by sufficient volume, will signal the start of altcoin season, with altcoins outperforming Bitcoin. The analysis focuses on ETHUSD, highlighting the current price level and identifying a key breakout point.