Ether (ETH) traded near $4,506 on Tuesday, down slightly over the past 24 hours, as the market digested recent volatility. Traders are observing whether this pullback sets the stage for a potential rally.
Fundstrat Sees Buying Opportunities
Mark Newton, Fundstrat Global Advisors’ Global Head of Technical Strategy, described the decline as a delayed correction. He expects ETH may dip toward $4,418 or $4,375 this week, presenting buying opportunities, while projecting a potential rise to $5,500 by mid-October, supported by ongoing market strength.
Technical Insights
CoinDesk Research data shows ETH dropped roughly 3% on September 15, moving from $4,619 to around $4,500. The sharpest decline occurred between 07:00 and 08:00 UTC, when prices fell from $4,632 to $4,514 amid trading volume more than double the daily average, totaling over 500,000 units.
Support emerged at $4,471, acting as a short-term floor, while $4,671 remained a ceiling limiting upside. Later, ETH stabilized within a tight band of $4,479–$4,505, with buyers stepping in around $4,490–$4,495. Despite this, sellers maintained control above $4,530.
Market Outlook
Ether’s $200 intraday range highlights uncertainty as the token consolidates between key support and resistance levels. The market appears poised, waiting for a catalyst that could trigger a decisive move either higher or lower in the coming days.
