Analyst Tom Lee: ETH Consolidation to Continue Until Midweek Before Reaching New Highs, BTC to Surpass $130,000

According to ChainCatcher, an analyst from Fundstrat Capital, under the leadership of BitMine’s new Chairman of the Board Tom Lee, shared their view yesterday that Ethereum’s current consolidation is expected to last another 1-2 days. However, the $4,075-$4,150 range will present a strong risk/reward opportunity, likely lasting through midweek. After that, Ethereum is expected to rise to nearly $5,100, setting a modest new high.

This pullback is similar to what is suggested by Elliott Wave Theory (which posits that financial markets do not move randomly, but instead follow specific, predictable wave patterns. These patterns reflect cyclical changes in investor sentiment and can be used to identify major trends and turning points in the market), so there is no need for concern. Meanwhile, Bitcoin should not fall below $111,900, and is expected to rise to the $130,000-$140,000 range afterward.

As previously reported, on August 19, BitMine’s new Chairman of the Board Tom Lee reposted the view of a Fundstrat Capital analyst on X: Ethereum is experiencing a minor pullback, with a midweek retracement to $4,075-$4,150. The pullback is healthy.