ETH Price Could Surge to $5,500 by Mid-October, Says Fundstrat Technical Chief

Ether (ETH) traded around $4,506 on Tuesday, down slightly by 0.5% over 24 hours, as the market steadied following recent volatility. Traders are weighing whether the pullback sets up the next upward move amid ongoing consolidation.

Fundstrat Sees Buying Opportunities
Mark Newton, Global Head of Technical Strategy at Fundstrat Global Advisors, described the recent slide as a delayed market correction. He anticipates potential dips to $4,418 or $4,375 as favorable entry points, while projecting ETH could climb to $5,500 by mid-October, underpinned by sustained market momentum.

Technical Analysis
CoinDesk Research data shows ETH fell roughly 3% on Sept. 15, sliding from $4,619 to around $4,500. The sharpest decline occurred between 07:00 and 08:00 UTC, with prices dropping from $4,632 to $4,514. Trading volume surged to more than double the daily average, totaling 501,741 units for the session.

Buyers stepped in at $4,471, creating a short-term support floor, while $4,671 continues to cap upside momentum. Later, ETH traded in a narrow range of $4,479–$4,505, with buying interest around $4,490–$4,495 stabilizing the market. Sellers, however, maintained pressure above $4,530.

Market Outlook
The $200 range underscores heightened uncertainty, as ETH remains trapped between key support and resistance. Consolidation suggests traders are waiting for the next catalyst, balancing short-term correction risks against the potential for renewed upside in the coming weeks.