According to Coindesk data, Ether (ETH) fell 0.5% in the last 24 hours to $4,506, a 0.5% drop in the last 24 hours, and as of 12:24 UTC on September 16, traders are debating whether the pullback will set up the next rally.
Fundstrat’s view
Mark Newton, global head of technology strategy at Fundstrat Global Advisors, described the decline as a correction the market missed last week.
He doesn’t think the ether will fall below its previous low of $4,233. Instead, he thinks he’s seeing a $4,418 or $4,375 dip by the end of the week. Levels bring opportunities to purchase. Newton’s project ether could rise to $5,500 by mid-October, pointing to the continued strength of the market.
Technical analysis of Coindesk Research
According to Coindesk Research’s technical analytics data model, Ether lost about 3% in the trading window on September 15, dropping from $4,619 to about $4,500.
The steepest slide occurred between 7:00 and 8:00 UTC, with prices falling sharply from $4,632 to $4,514. During that period, trading activity surged, with volume more than doubled the daily average of 194,000 units, and total session sales reaching 501,741 units.
After touching on the $4,471 minimum, buyers intervened to slow the decline. That level served as a short-term “floor.” Conversely, the ether struggled to move beyond the $4,671 that acted as a “ceiling.”
Prices stabilized between 11:00pm UTC on September 15th and 00:00pm UTC on September 16th. The ether went from $4,497 to $4,505, narrowing it down to tight bands between $4,479 and $4,505. The buyer’s interest was around $4,490-4,495, which helped stabilize the market, but the tokens were unable to regain $4,530, indicating that the seller still has a higher level of control.
In total, the trading window covers the $200 range, ranging from $4,471 to $4,671, highlighting the growing uncertainty. Data show that ethers are beginning to stabilize after a sharp drop, with demand appearing at a low level, but resistance is making capping recent profits.
Latest 24-hour chart analysis
The latest Coindesk data chart, generated at 12:24 UTC on September 16th, holds nearly $4,506 in ether after a turbulent day. The token remains boxed between the $4,471 floor and the $4,671 ceiling, with little higher progress. The deal over the past 12 hours has leaned towards consolidation, indicating that the market may be waiting for the next catalyst after a fierce sale on Monday.
Disclaimer: Part of this article is generated with the support of AI tools and reviewed by the editorial team to ensure accuracy and compliance Our standards. For more information, please refer Coindesk’s complete AI policy.
