ETH Going to $5,500 by Mid-October, Says Fundstrat’s Global Head of Technical Strategy

According to CoinDesk Data , ether (ETH) traded at $4,506, down 0.5% in the past 24-hour period, as of 12:24 UTC on Sept. 16, slipping slightly in the past 24 hours as traders debate whether this pullback will set up the next rally. Fundstrat's View Mark Newton , Global Head of Technical Strategy at Fundstrat Global Advisors, described the decline as the correction the market missed last ￰0￱ does not expect ether to fall below its prior low of $4,233. Instead, he sees possible dips to $4,418 or $4,375 by week’s end — levels he calls buying ￰1￱ projects ether could climb to $5,500 by mid-October, pointing to continued market ￰2￱ Research's Technical Analysis According to CoinDesk Research's technical analysis data model, ether lost about 3% during Sept. 15’s trading window, dropping from a peak of $4,619 to around $4,500.

The steepest slide occurred between 07:00 and 08:00 UTC, when prices fell sharply from $4,632 to $4,514. Trading activity surged during that period, with volume more than doubling the daily average of 194,000 units and total turnover for the session reaching 501,741 ￰3￱ touching a low of $4,471, buyers stepped in to slow the ￰4￱ level has served as a short-term “floor.” On the upside, ether struggled to move past $4,671, which has acted as a “ceiling.” Later in the session, between 23:00 UTC on Sept. 15 and 00:00 UTC on Sept. 16, prices ￰5￱ edged up from $4,497 to $4,505 and narrowed into a tight band between $4,479 and $4,505. Buyer interest around $4,490–$4,495 helped stabilize the market, but the token could not reclaim $4,530, showing sellers still had control at higher ￰6￱ total, the trading window covered a $200 range between $4,471 and $4,671, underscoring heightened ￰7￱ data shows ether beginning to stabilize after the sharp drop, with demand visible at lower levels but strong resistance capping near-term ￰8￱ 24-Hour Chart Analysis The most recent CoinDesk Data chart, generated at 12:24 UTC on Sept. 16, shows ether holding near $4,506 after a turbulent ￰9￱ token remains boxed between its $4,471 floor and $4,671 ceiling, with little progress in breaking ￰10￱ over the past 12 hours has tilted toward consolidation, signaling the market may be waiting for the next catalyst after Monday’s heavy selloff.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our ￰11￱ more information, see CoinDesk's full AI Policy .