1. What “Going Home” Means
Benjamin says Ethereum has “gone home,” meaning it returned to a familiar price range where it has stayed in past cycles. This could be a sign that Ethereum is getting ready for a new phase of growth.
2. Important Price Level: $3,100
Ethereum is now close to the $3,100 level, which has been tough to pass. If it can move above this level, it might continue rising toward new all-time highs. If it cannot, a short-term drop is likely.
3. Possible Dip in Q3
In past years, the crypto market often got weaker during the third quarter (July to September). Benjamin thinks Ethereum might face some short-term weakness in August or September, but he sees this as a normal pause, not the start of a crash.
4. ETH Compared to Bitcoin
Even though Ethereum has lost some ground against Bitcoin, it is still holding above its past low points. This is a positive sign. If it starts falling below those levels, though, that could be a warning of bigger problems.
5. Big Picture Risks
Benjamin points out that if the economy takes a bad turn, like higher inflation or rising unemployment, Ethereum could drop more. He does not think this will happen unless the economic data gets much worse, but he wants to stay prepared just in case.
6. Following Tesla's Pattern
He compares Ethereum’s current behavior to how Tesla’s stock moved in 2024. Tesla dropped in the spring, rallied over the summer, and then reached new highs at the end of the year. Ethereum might do something similar.
7. What to Watch Next
The big question now is whether Ethereum can push above the $3,100 level. If it does, Benjamin believes a strong rally could follow, possibly taking it to new highs. If it fails, Ethereum might just trade sideways or dip for the rest of the summer. Either way, he is still hopeful that Ethereum will perform well by the end of the year, especially if it holds above key support levels.
