Experts predict Ethereum will recover, surpassing the $5,000 mark

Although the price of Ethereum has decreased by about 8% from the recently established peak, Tom Lee from Fundstrat and Mark Newton predict that ETH will hit a temporary bottom and soon exceed $5,000. They believe that $ETH will not drop below $4,000 in the near future and could reach $5,450.

Contrasting views on the short term

While some experts are optimistic about ETH's recovery potential, others warn of short-term downside risks. David Morrison from TradeNation points out that ETH's technical indicators are still in the "overbought" zone, suggesting a possibility of correction or sideways movement before a strong increase. He also believes that Bitcoin currently has more attractive upside potential. Simon Peters from #eToro also agrees, noting that September is often a poor month for the crypto market, and ETH's strong increase of 250% since April may drive investors to take profits.

Positive long-term outlook

However, experts have an optimistic view regarding ETH's long-term prospects. Simon Peters predicts that ETH will experience a strong price surge by the end of the year, due to a more favorable regulatory environment in the U.S., institutional acceptance, and high demand from ETF funds as well as treasury companies. The increase in global money supply may also attract more individual investors to the crypto market. #anh_ba_cong