Analyst Benjamin Cowen Outlines What Could Be Next For Ethereum (ETH)

Benjamin Cowen, a top crypto market analyst, is looking into Ethereum (ETH) and outlines the path forward, as the leading smart contract platform reclaims $3,000 level.

In a recent video update, Cowen shared with the 707K subscribers to his YouTube channel that ETH been trading in a range between $2,000 and $4,000 for almost a year, which the analyst believes to pay off for ETH in the end.

“What I do think is that Ethereum is unlikely to spend a year or more between $2,000 to $4,000 just to throw it all away.”

Cowen opines that Ethereum is currently mimicking its 2016 price action when it also moved sideways for about a year before shooting to new all-time high.

“Ethereum is theoretically in this sort of move where you have an impulsive move off of the bear market bottom. You have some type of impulsive move there, and then you go sideways for the better part of a year and then you can ultimately break out to the upside.”

If Ethereum actually follows its 2016-2017 market structure, ETH is on the way to hit new all-time high around June 2022, Cowen says.

“I want people to not look at this fractal with the idea that it has to play out, but look at it with the same lens that retail investors felt the exact same way as we did right now once upon a time. The emotions were the same. The prices were different, but the emotions were the same.

What I’m looking for: follow the fractal until it breaks. What happens is we consolidate for a little bit and then just start pushing higher and if it were to continue to play out, then maybe we are looking at new all-time highs by May, by June, by July, something like that.”