Several analysts are forecasting a short-term correction for Ethereum (ETH) ahead of a potential new upswing. Current chart patterns indicate a possible decline, but experts suggest this could be merely a setup for the next bullish move.
According to analyst Henry, ETH is forming an “inverted cup-and-handle” pattern, which often precedes a short-term drop. The asset may test the $3800 level before resuming its upward momentum.
“I’ve seen this structure before. After such a dip, a real rally usually begins. Time to prepare your portfolios,” he commented.
Other market analysts also anticipate a correction. Evgen predicts a “brief but sharp drop” that could create a buying opportunity. Crypto community members note that the market’s cyclical nature—periods of sideways movement followed by sudden liquidity spikes—is typical for ETH and other altcoins.
At the time of publication, Ethereum is trading around $4052. Earlier, on October 9, experts had already predicted a short-term retracement to this level.
Despite local pessimism, analyst K A L E O remains bullish. He notes that October traditionally shows strong performance for the crypto market, and in past years, Uptober ended with range breakouts and growth in both BTC and altcoins.
Forecasts suggest that, after derivative markets stabilize, ETH could rebound to $4500, while a sustained move above $5000 could signal the start of a new altcoin season. MN Trading Capital analyst Michaël van de Poppe also stated that Ethereum is within one to two weeks of reaching a new all-time high, with roughly 18% growth needed to hit the peak.
