Fundstrat Forecasts Ether Rally To $5,500 After Brief Dip

Fundstrat's Mark Newton predicts that Ether will likely bottom out over the next few days before rallying to $5,500. He mentioned a 'minor three-wave pullback' expected to conclude soon. Newton expressed confidence in Ethereum's recovery despite recent market weaknesses, stating that an ideal support level could be around $4,200 following its correction from a height of $4,750. Meanwhile, analyst Benjamin Cowen noted that the current price volatility would continue until a key support level is established. The anticipation of favorable macroeconomic shifts, including potential easing of Federal Reserve policies, drives optimism for Ethereum's future, with any dips seen as strategic buying opportunities. Institutions such as Grayscale are actively staking significant amounts of ETH, reflecting bullish sentiment towards Ethereum. Overall, a constructive technical setup and institutional interest contribute to the belief that Ethereum could reclaim all-time high levels soon.

Source 🔗