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

According to CoinDesk Data, ether (ETH) traded astatine $4,506, down 0.5% successful the past 24-hour period, arsenic of 12:24 UTC connected Sept. 16, slipping somewhat successful the past 24 hours arsenic traders statement whether this pullback volition acceptable up the adjacent rally.

Fundstrat's view

Mark Newton, Global Head of Technical Strategy astatine Fundstrat Global Advisors, described the diminution arsenic the correction the marketplace missed past week.

He does not expect ether to autumn beneath its anterior debased of $4,233. Instead, helium sees imaginable dips to $4,418 oregon $4,375 by week’s extremity — levels helium calls buying opportunities. Newton projects ether could ascent to $5,500 by mid-October, pointing to continued marketplace strength.

CoinDesk Research's method analysis

According to CoinDesk Research's method investigation information model, ether mislaid astir 3% during Sept. 15’s trading window, dropping from a highest of $4,619 to astir $4,500.

The steepest descent occurred betwixt 07:00 and 08:00 UTC, erstwhile prices fell sharply from $4,632 to $4,514. Trading enactment surged during that period, with measurement much than doubling the regular mean of 194,000 units and full turnover for the league reaching 501,741 units.

After touching a debased of $4,471, buyers stepped successful to dilatory the decline. That level has served arsenic a short-term “floor.” On the upside, ether struggled to determination past $4,671, which has acted arsenic a “ceiling.”

Later successful the session, betwixt 23:00 UTC connected Sept. 15 and 00:00 UTC connected Sept. 16, prices steadied. Ether edged up from $4,497 to $4,505 and narrowed into a choky set betwixt $4,479 and $4,505. Buyer involvement astir $4,490–$4,495 helped stabilize the market, but the token could not reclaim $4,530, showing sellers inactive had power astatine higher levels.

In total, the trading model covered a $200 scope betwixt $4,471 and $4,671, underscoring heightened uncertainty. The information shows ether opening to stabilize aft the crisp drop, with request disposable astatine little levels but beardown absorption capping near-term gains.

Latest 24-hour illustration analysis

The astir caller CoinDesk Data chart, generated astatine 12:24 UTC connected Sept. 16, shows ether holding adjacent $4,506 aft a turbulent day. The token remains boxed betwixt its $4,471 level and $4,671 ceiling, with small advancement successful breaking higher. Trading implicit the past 12 hours has tilted toward consolidation, signaling the marketplace whitethorn beryllium waiting for the adjacent catalyst aft Monday’s dense selloff.

Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.