Ethereum Analyst Predicts New All-Time High by December
A prominent crypto analyst has made a bold prediction that Ethereum (ETH) is on track to reach a new all-time high in the coming months. Benjamin Cowen, who has a massive following on YouTube, believes that the second-largest cryptocurrency by market cap has fulfilled the necessary criteria to set it up for a significant rally.
During a recent strategy session, Cowen shared his insights with his 917,000 subscribers, stating that Ethereum has formed a higher macro low, indicating that it is poised for a potential surge to new highs.
“For a long time, my bias was that it made sense to fade Ethereum because it was going to bleed against Bitcoin, and it needed to go home. It needed to form a macro higher low. Now, that’s happened. So, what is my bias now, right? Well, my bias now is that it will make new all-time highs and I’m going to say no later than December.”
Cowen envisions Ethereum reaching its market cycle peak before January 2026, with a projected maximum price of $7,500.
“I think the top for Ethereum for this market cycle will occur no later than January, and it could very well occur before that. It depends on what happens. So let’s suppose that Ethereum does go to a new all-time high this cycle and let’s suppose it happens within the next 5 to 6 months…
We did this whole video on the butterfly effect, where essentially if you go through the butterfly effect, it calls for a price of Ethereum, potentially of $5,300 to as high as $7,500. So, I say that again. $5,300 to $7,500 is a range that would be justified if you believe in that butterfly harmonic pattern that we’ve been following for a while.”
The butterfly effect is a harmonic pattern that Cowen believes Ethereum is currently following, leading to a cycle top and a subsequent bear market.
As of now, Ethereum is trading at $3,499, showing a 3% increase in the last 24 hours.
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