$ETH When Ethereum breaks below 3000, retail investors will panic, thinking that 2000/1000 Ethereum is not far away. In fact, breaking below 3000 will initiate another round of consolidation for Ethereum to rebuild its bottom before a new bull market can start. The peak of 4950 was reached in the early hours of August 25, and now, nearly 3 months have passed since November. This position has been tested four times at 4700; most who have averaged down should be out of the red by now. I predict that in December we will break through 4950, and initially aim for 5100, which will quickly fall below 5000 to rebuild the bottom. The true peak requires multiple rounds of consolidation, just like the previous bottom of 1300 which underwent many rounds of consolidation. The highest point should be 5300-5500, which I believe is the true peak, while I predict that 4950 can only take a maximum of 2500 points.
