Tom Lee's Fund Analyst: Ethereum Expected to End Pullback Tomorrow, with a Possible Low of $4,200

BlockBeats News, October 10th: This morning, Tom Lee retweeted a recent analysis of Ethereum by his fund analyst Mark Newton. Mark Newton believes that the recent pullback in the crypto market over the past few days is nothing to fear. He expects Ethereum to bottom out in the next 1-2 days, then rally and rebound to $5500. From September 25th to October 7th, ETH experienced a strong technical uptrend, followed by only a slight three-wave correction. It is expected to conclude the correction and resume its uptrend by October 11th.

「Currently, ETH has retraced 50% of its recent gains, but it may continue to drop to the $4200-$4220 region, which will be a strong support area before ETH resumes its upward momentum.」

It is important to note that although Mark Newton has made accurate predictions about Ethereum's price trends in the past, on September 16th, he mentioned, "ETH is not expected to drop below the previous low of $4233, and it may fall to $4418 or $4375 over the weekend, taking advantage of this weakness to buy on the dip. ETH is expected to rise to $5500 by mid-October." However, Ethereum experienced a brief sharp decline to $4054 shortly after.