Fund analyst under Tom Lee: Ethereum is expected to end its correction, with a possible low of $4,200.

ChainCatcher reported that Tom Lee this morning reposted the latest views on Ethereum from Mark Newton, an analyst at his fund. Mark Newton believes that the recent pullback in the crypto market is nothing to fear, and expects Ethereum to bottom out in the next 1-2 days, then rebound and rise again to $5,500. 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 $4,200-$4,220 area, which will be an excellent support zone, after which ETH will turn upward again." It should be noted that although Mark Newton has previously made several accurate predictions about Ethereum's price movements, on September 16, he stated, "It is expected that ETH will not fall below the previous low of $4,233, and may drop to $4,418 or $4,375 this weekend, at which point I will take advantage of the weakness to buy the dip. ETH is expected to rise to $5,500 before mid-October." However, Ethereum subsequently briefly dropped to $4,054.