Analyst Tom Lee: Ethereum's consolidation will continue until mid-week, after which it will reach new highs, and Bitcoin will break through $130,000.

On August 20, Tom Lee, the new chairman of the board of BitMine, stated through Fundstrat Capital's analysts that Ethereum's recent consolidation is expected to last another 1-2 days, but the $4075-$4150 range will present a good risk/reward opportunity until mid-week. After that, Ethereum should rise to close to $5100, creating a slight new high. This pullback trend is similar to what is indicated by the Elliott Waves theory (which posits that financial markets do not fluctuate randomly but follow specific, predictable wave patterns. These patterns reflect the 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. Meanwhile, Bitcoin should not fall below $111,900 and will subsequently rise to the $130,000-$140,000 range. BlockBeats previously reported that on August 19, Tom Lee, the new chairman of BitMine, reposted on the X platform the views of analysts from his Fundstrat Capital: Ethereum is experiencing a slight pullback, pulling back to $4075-$4150 mid-week. The pullback is healthy.