ETH May Hit $5,500 by Mid-October, According to Fundstrat’s Technical Strategy Lead

Ether (ETH) traded near $4,506 on Tuesday as investors assessed whether the recent pullback could set the stage for a renewed rally. Over the past 24 hours, ETH slipped 0.5%, reflecting uncertainty after sharp swings earlier in the week.

Fundstrat’s Outlook
Mark Newton, Fundstrat Global Advisors’ Global Head of Technical Strategy, described the decline as the “correction the market missed last week.” He expects ETH to find support at $4,418 or $4,375, viewing these levels as buying opportunities. Newton projects a potential rise to $5,500 by mid-October, citing continued market strength and momentum.

Market Activity and Technicals
According to CoinDesk Research, ETH fell roughly 3% on Sept. 15, sliding from a peak of $4,619 to around $4,500. The sharpest drop occurred between 07:00 and 08:00 UTC, as prices fell from $4,632 to $4,514, with trading volume more than doubling the daily average of 194,000 units. Total turnover for that session reached 501,741 units.

Buyers stepped in at $4,471, establishing a short-term floor, while $4,671 remains a ceiling, capping gains. Later in the session, ETH stabilized between $4,479 and $4,505, as demand around $4,490–$4,495 helped prevent further declines. Sellers, however, maintained control at higher levels, as ETH could not reclaim $4,530.

Trading Range and Market Sentiment
The overall $200 trading range underscores ongoing volatility. Current data shows consolidation forming, with ETH holding support at lower levels while resistance limits near-term upside. Traders appear to be waiting for new catalysts following Monday’s selloff, indicating a cautious market sentiment.

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