Ethereum may hit its golden bottom tomorrow — analysts eye $4,200 as key zone

Fundstrat’s technical analyst Mark Newton just dropped a notably bullish outlook for Ethereum. According to him, ETH’s current dip is nothing alarming — it’s a “healthy three-wave correction” that could end within the next 1–2 days.

Newton points out that the $4,200–$4,220 range is an “excellent support zone” — what he calls the golden pit. Once ETH tests this level, he expects strong buying pressure to kick in, setting the stage for another rally toward $5,500.

Here’s his reasoning:

ETH has retraced about 50% of its gains since Sept 25, lining up perfectly with the classic Fibonacci retracement level — often a signal of trend continuation.

After a brief shakeout, this could mark the bottom of the correction before the next major move up.

In short — Newton’s message is clear: Ethereum’s correction might be ending soon, and the next leg higher could be right around the corner.