Tom Lee's fund analyst: Ethereum is expected to end its correction, with a possible low of $4200

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 not worrisome, and he expects Ethereum to bottom out in the next 1-2 days, followed by a rise and a 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 resume its upward trend.

"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 important to note that although Mark Newton has accurately predicted Ethereum's movements multiple times before, on September 16, Mark Newton stated, "I expect ETH will not fall below the previous low of $4233, and it may drop to $4418 or $4375 this weekend, at which point I will take advantage of this weak market to buy on dips. ETH is expected to rise to $5500 before mid-October." However, Ethereum briefly spiked down to $4054 afterward.