A Crypto Analyst Predicts a Major Ethereum Collapse by Year’s End
A well-known crypto analyst, Benjamin Cowen, is standing by his prediction that Ethereum (ETH) will experience a significant collapse before the end of the year. In a recent strategy session on YouTube, Cowen expresses his belief that Ethereum needs to “return home” or drop to lower levels before experiencing a sustained bull run.
Cowen points out that previous rallies to new highs for Ethereum only occurred after the cryptocurrency had dropped to its lower regression band, which he refers to as “home.” According to Cowen’s analysis from almost a year ago, this “home” range for ETH is between $600 and $800.
He predicts that within the next two and a half months, Ethereum will likely fall below $1,200 and potentially even lower. At the time of writing, ETH is valued at $1,572, having decreased by 5% in the past week.
Hot Take: Ethereum’s Future Hangs on Returning Home
According to crypto analyst Benjamin Cowen, Ethereum’s path to new highs involves a collapse back to its lower regression band. Cowen believes that Ethereum needs to “return home” before embarking on a sustained bull run. He argues that previous rallies in ETH have only occurred after it dropped to its lower regression band. Cowen’s analysis from almost a year ago suggests that this “home” range for ETH is between $600 and $800.
Cowen predicts that within the next two and a half months, Ethereum will likely drop below $1,200 and potentially go even lower. As of now, ETH is valued at $1,572 but has experienced a 5% decrease in the last week.
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