Summary
- Mark Newton, global technical analysis strategist at Fundstrat, stated that Ethereum could rise up to $5,450.
- He mentioned that as long as it does not fall below $4,067, the bullish momentum will continue, and that a rebound around $4,300 could lead to a break above $5,100.
- Bitmain purchased an additional 19,526 ETH last week, now holding a total of 1,713,899 Ethereum.
There is an analysis indicating that Ethereum (ETH) could rise as high as $5,450.
On the 26th (local time), Mark Newton, a global technical analysis strategist at Fundstrat, stated in a letter to Tom Lee, the chairman of Bitmain, that "Ethereum is positioned at a very attractive spot" and added, "As long as it does not fall below $4,067, the bullish momentum will remain." He continued, "Ethereum can rebound around the $4,300 level and surpass $5,100," and said it could rise up to $5,450 at most.
Tom Lee responded, "It is expected that Ethereum will reach its bottom within the next few hours."
Meanwhile, Bitmain purchased an additional 19,526 ETH just last week and now holds a total of 1,713,899 Ethereum.
Son Min
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