Ethereum Uptrend Persists as Mark Newton Refutes ‘Crypto Has Peaked’ Narrative, Citing Unconfirmed Elliott Wave and DeMark Signals

COINOTAG News reports on November 2 that Mark Newton of Tom Lee’s fund challenges the notion that the crypto market has already peaked. He points to the absence of a clear top in the Elliott Wave structure and the lack of DeMark signals confirming a peak.

Newton notes that a sideways consolidation typically tests momentum and can drive the MACD lower, yet there is no established five-wave decline from the recent high to confirm a reversal.

Beyond timing, the medium-term trend has not broken since 2022, with prices forming higher highs. He underscores that market sentiment is not near historical levels that typically accompany meaningful tops in crypto.

Although Newton previously forecast Ethereum‘s trajectory with notable accuracy, his upbeat Ethereum outlook since September contrasts with current market dynamics, highlighting the primacy of data-driven analysis over sentiment for investors navigating the space.