Ethereum may be preparing for a major rebound, according to Fundstrat’s Head of Technical Strategy, Mark Newton, who expects the price to climb toward $5,500 after the recent correction.
Newton believes Ethereum has likely found its bottom following the drop below $4,000 and could begin a fresh upward move soon. His analysis points to the end of a three-wave pullback pattern, suggesting that ETH’s correction phase is over and a new rally is on the horizon.
Fundstrat co-founder Tom Lee shared Newton’s outlook on X, highlighting the firm’s continued bullish stance on Ethereum despite the recent market turbulence. Lee echoed that the market reset was “long overdue,” framing it as a natural pause within a broader uptrend.
Both analysts remain confident in Ethereum’s long-term momentum, noting strong network fundamentals and renewed accumulation among large holders. On-chain data supports this view, showing that whales have started increasing their ETH positions again, a possible sign that confidence is returning.
If market conditions hold, Newton’s $5,500 target could mark the next significant milestone for Ethereum in the current cycle.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
