In brief
- Ethereum sank below $4,350 early Tuesday before gaining ground.
- Fundstrat managing partner Thomas Lee predicted that ETH would not fall below $4,000.
- Lee expects ETH to surpass $5,000 in the near future.
Fundstrat Head of Research Tom Lee predicted that Ethereum would hit a temporary bottom Tuesday before beginning a climb beyond $5,000, shortly before the token began inching upward.
Citing a message sent to him by Fundstrat Global Head of Technical Strategy Mark Newton, Lee, who also serves as chair of ETH treasury BitMine Immersion, endorsed the view that Ethereum will not fall lower than $4,000 in the near term.
Newtown suggested in his message that the altcoin will “bottom out sometime in (the) next 12 hours near $4,300,” although it was not precisely clear when he sent the message to Lee.
Ethereum currently dipped as low as $4,341 early Monday before rallying to its current level above $4,550. It is down about 1% over the past 24 hours and roughly 8% since reaching an all-time high of $4,946 on Su
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Author: Simon Chandler
