Tom Lee's fund analyst: Ethereum is expected to end its pullback, with a minimum possibly dropping to 4200 USD

ChainCatcher message, Tom Lee forwarded the latest views on Ethereum from his fund analyst Mark Newton this morning. Mark Newton believes that the recent pullback in the crypto market is nothing to worry about, and he expects Ethereum to bottom out in the next 1-2 days, then rise again and rebound to $5500. From September 25 to October 7, ETH experienced a strong technical rally, followed by only a slight three-wave correction, which is expected to end before October 11 and move upward again.

"Currently, ETH has retraced 50% of its recent gains, but it may continue to dip to the $4200-4220 area, which will be an excellent support zone, after which ETH will rise again." It is worth noting that although Mark Newton has previously made accurate predictions about Ethereum's movements, on September 16, Mark Newton stated, "I expect ETH will not fall below the previous low of $4233, and may drop to $4418 or $4375 this weekend, at which point I will take advantage of this weak market to buy the dip. ETH is expected to rise to $5500 before mid-October." However, Ethereum briefly spiked down to $4054 afterward.