Technical Support Around $4,200 – $4,220
Newton highlighted that Ethereum (ETH/USD) has already retraced around 50% of its late‑September rally, adding that the $4,200–$4,220 zone could serve as an “optimal area of support.” He described the current move as a “minor three‑wave pullback” that is likely to end by October 11, setting the stage for a renewed push higher.
Crypto savant @MarkNewtonCMT at it again:
"I do not make much of Crypto weakness in recent days, and expect $ETHUSD likely bottoms out over the next 1-2 days before heading back higher and rallies to $5500.
– Following a recent strong technical rally from 9/25 into 10/7 in… pic.twitter.com/LCQDtGpDXs
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) October 9, 2025
At the time of writing, Ethereum trades near $3,840, following a sharp correction triggered by broader crypto market turmoil linked to President Donald Trump’s new 100% tariffs on Chinese imports. The sudden announcement rattled global markets, leading to widespread liquidations across risk assets.
A Rebound in Sight
Despite near‑term volatility, Newton remains optimistic, noting that Ethereum’s structural trend remains bullish. “The next leg higher could push ETH toward $5,500,” he said, suggesting that the recent decline offers a strong accumulation opportunity for long‑term investors.
This outlook comes as technical indicators such as the average crypto RSI (29.29) show oversold conditions across the market, hinting that a rebound phase could soon begin if macro pressures ease.