Bitcoin BTC/USD and Ethereum ETH/USD are entering a pivotal phase in the current bull cycle, according to crypto analyst Benjamin Cowen.

What Happened: Ethereum’s push above $4,000 marks the completion of what Cowen called its “going home” phase in a podcast on Aug. 10 — a recurring cycle pattern where Ethereum bottoms against Bitcoin for the third time, as seen in 2016 and 2019.

This involved capitulating to its regression band, setting the stage for a sustainable rally.

Cowen sees ETH consolidating between $4,000 and $5,000 through September and October, with strong resistance near its all-time high of $4,867.

He dubs this period “Ethereum season,” noting ETH’s outperformance against…

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