Ethereum (CRYPTO: ETH) is expected to undergo a minor correction to the $4,075-$4,150 range by midweek before resuming its upward trajectory, according to Fundstrat co-founder Tom Lee.
Technical Correction Expected
Lee shared Mark Newton‘s technical analysis, indicating Ethereum’s recent consolidation has “a bit more” to unfold over the next 1-2 days. Newton expects the pullback to provide “very good risk/reward at $4,075-$4,150 into mid-week.”
The correction follows Elliott Wave patterns and “shouldn’t be a big deal at all,” according to Newton’s assessment shared with Fundstrat.