As Ethereum navigates turbulent waters, a confluence of institutional conviction and high-profile technical analysis is sending a powerful signal to the market. Renowned Wall Street strategist Tom Lee has amplified a forecast predicting an imminent bottom for Ethereum (ETH), a call that lands just as crypto mining firm BitMine Immersion executes a significant multimillion-dollar purchase of the digital asset.
The Fundstrat Forecast: A Floor and a Rebound
In a market alert that has captured the attention of traders, Tom Lee, Managing Partner at Fundstrat Global Advisors and Chair of BitMine, highlighted a sharp analysis from his colleague, Mark Newton. According to Newton, Ethereum is poised to find its footing around the $4.300 mark within the next 12 hours.
This isn’t just a call for a halt to the slide. The Fundstrat analysis projects a powerful rebound following this trough, with initial targets set above $5.100 and a more ambitious ceiling between $5.400 and $5.450.
“Mark @MarkNewtonCMT again at it. Calling ETH bottom to happen in next few hours,” Lee shared on X, adding significant weight to the prediction.
The Institutional Whale: BitMine’s Strategic Accumulation
Adding a layer of market validation to Fundstrat’s technical perspective, BitMine Immersion has just disclosed a substantial acquisition. The firm scooped up an additional 4.871 ETH, a purchase valued at approximately $21.300.000.
This move is more than just a dip-buy; it’s a statement of profound confidence. The purchase bolsters BitMine’s already colossal treasury to an estimated 1,72 million ETH. This cements their position as the largest corporate holder of Ethereum, controlling a remarkable 1,42% of the total circulating supply—a trove currently valued at a staggering $7.500.000.000. For many investors, such a decisive move by a major player signals a belief that the asset is undervalued at current levels.
A Technical Litmus Test
From a technical standpoint, Ethereum is at a critical juncture. At the time of writing, ETH is trading near $4.413, having retreated sharply from the $4.800 zone. This price point hovers just above a crucial technical level: the 61,8% Fibonacci retracement support at $4.407. In technical analysis, this level is often a key pivot point where a trend can either reverse or continue with force.
A look at the key indicators provides a mixed but hopeful picture:
- Relative Strength Index (RSI): The RSI, a momentum oscillator, is currently at 39. While not yet in the “oversold” territory (typically below 30), it indicates that bearish momentum is waning and seller exhaustion could be near. A dip into the oversold region followed by a bounce would align perfectly with Newton’s predicted reversal.
- Support and Resistance: If the $4.407 support holds, a short-term rebound towards the $4.491–$4.550 range is highly plausible before a potential attempt at higher targets. A failure to hold this level could see the price slide towards the predicted $4.300 bottom.
The market now watches intently. The combination of a calculated institutional investment and a bold analytical forecast has set the stage. Whether this proves to be the definitive floor for Ethereum’s recent downturn or merely a pause in the volatility remains to be seen, but the signals for a potential recovery are undeniably aligning.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Investors should always conduct their own thorough research and consult with a qualified financial advisor before making any investment decisions in cryptocurrencies, which are highly volatile and speculative assets.
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