Analyst Benjamin Cowen Warns of Huge Ethereum (ETH) Crash Incoming – Here’s His Price Target

Popular crypto analyst Benjamin Cowen thinks Ethereum (ETH) is in for some tough days ahead despite its price surge this month.

Cowen tells his 783,000 YouTube subscribers that he believes it is likely ETH will drop to the $600-800 range, a roughly 50-60% fall from current prices.

Buy physical gold and silver online

Ethereum is trading at $1,579 at time of writing. The second-ranked crypto asset by market cap is down by more than 2% in the past 24 hours but up nearly 4% in the past week.

Cowen says ETH’s price decrease will bring it back “home” to its fair value logarithmic regression line fit to “non-bubble data.”

“My opinion is that a sustained bull market for Ethereum will not occur until Ethereum spends some time at home base. I understand that we’ve sort of been flirting with that level for a while, but to my surprise in fact and to Ethereum’s credit, it has remained much more resilient than I thought it would be…

Despite that, I still do think it is more likely than not that eventually it’s going to go into this lower regression band. Whether that means we go to it or it comes to us of course is up for interpretation. I think it’s more likely going to eventually break to the downside.”

Source: Benjamin Cowen/YouTube

I

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
Featured Image: Shutterstock/Spyro the Dragon

The post Analyst Benjamin Cowen Warns of Huge Ethereum (ETH) Crash Incoming – Here’s His Price Target appeared first on The Daily Hodl.

About the author

Why invest in physical gold and silver?
文 » A