Analyst Tom Lee: Ethereum Consolidation to Continue Until Midweek, Then Will Reach New Highs, Bitcoin to Break $130,000

BlockBeats News, August 20th, BitMine's newly appointed Chairman Tom Lee's Fundstrat Capital fund analyst released an opinion yesterday, stating that Ethereum's recent consolidation is expected to continue for another 1-2 days, but the $4075-$4150 range will present a good risk/reward opportunity, extending into mid-week. After that, Ethereum should rise to nearly $5100, setting a slight new high.

This pullback trend is similar to what is suggested by Elliott Wave Theory (which posits that the financial market does not move randomly but follows specific, predictable wave patterns. These patterns reflect cyclical changes in investor sentiment and can be used to identify major trends and reversal points in the market), so there is no need to worry. At the same time, Bitcoin should not fall below $111,900 and will then rise to the $130,000-$140,000 range.

BlockBeats previously reported that on August 19th, BitMine's newly appointed Chairman Tom Lee reposted his Fundstrat Capital fund analyst's view on the X platform: Ethereum is undergoing a slight pullback, pulling back to $4075-$4150 mid-week. The pullback is healthy.