ETH Going to $5,500 by Mid-October, Says Fundstrat’s Global Head of Technical Strategy

Core Viewpoint - Ether (ETH) is currently trading at $4,506, experiencing a slight decline of 0.5% in the past 24 hours, as traders speculate on the potential for a rally following this pullback [1] Group 1: Market Analysis - Mark Newton from Fundstrat Global Advisors views the recent decline as a necessary correction, predicting that ether will not fall below its previous low of $4,233, with potential dips to $4,418 or $4,375 seen as buying opportunities [2] - CoinDesk Research indicates that ether lost approximately 3% during the trading window on September 15, dropping from a peak of $4,619 to around $4,500, with significant trading activity noted during this period [3] - The trading window exhibited a range of $200 between $4,471 and $4,671, highlighting increased market uncertainty, although demand is visible at lower levels [5] Group 2: Price Levels and Trading Activity - After reaching a low of $4,471, buyer interest helped stabilize ether, which has established a short-term "floor" at this level, while $4,671 has acted as a "ceiling" [4] - The latest chart analysis shows ether maintaining a position near $4,506, remaining within the established range of $4,471 to $4,671, indicating a period of consolidation as the market awaits further catalysts [6]