Thomas Lee of Fundstrat has predicted that Ethereum (ETH) will hit a temporary bottom below $4,350 before rallying to surpass $5,000. After experiencing a dip to $4,341, ETH has since regained some value, currently hovering above $4,550. Lee bases his optimism on the belief that the token will not fall below $4,000 in the near term. However, some analysts, including David Morrison from TradeNation, caution against immediate bullish expectations, suggesting ETH may face further declines due to its overbought status. Meanwhile, Simon Peters from eToro noted that September is historically a challenging month for cryptocurrencies, potentially keeping prices subdued. Both analysts highlighted the potential influence of upcoming decisions by the U.S. central bank on interest rates in mid-September, which could further impact Ethereum's trajectory. However, Peters is optimistic about Ethereum's long-term prospects, citing strong institutional interest and a favorable regulatory environment. The recent addition of $252 million in ETH by SharpLink Gaming also underscores institutional faith in Ethereum.

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