Benjamin Cowen just covered Ethereum hitting a fresh all time high, something many doubted would happen. He sees this as a big win, but also reminds everyone to stay realistic.
His outlook is that Ethereum may still climb a little higher in the next week, possibly testing $5,000, but history suggests a pullback is likely in September. In past cycles, September has been a weak month, with drops of 30-40% not uncommon. That means we could see Ethereum revisit its support levels before setting up for another rally.
Cowen believes this pattern could actually be healthy. A dip in September might set the stage for a strong October push, possibly into new highs again. He emphasizes that no one has a crystal ball and markets can surprise, but planning for pullbacks is part of the game.
The key takeaway - celebrate the milestone, but don’t expect the ride to be smooth. Volatility is normal, and corrections can create stronger setups for the next move higher.
