Crypto analyst Benjamin Cowen thinks Ethereum (ETH) could be in for a significant price drop in the coming weeks. He’s predicting a “final capitulation,” which means the price could plummet to as low as $1,000.
Why Cowen Thinks Ethereum Will Drop
Cowen is basing his prediction on historical patterns. He points out that Ethereum has typically bottomed out in the fourth quarter of the year. Looking at previous cycles, he sees similarities to 2019, when Ethereum experienced a big drop in November.
He also notes that Ethereum’s recent rallies haven’t been strong enough to reach important technical indicators, like the 20-week simple moving average (SMA). This lack of strength, he says, is a sign that a drop is coming.
What This Means for Ethereum Investors
If Cowen is right, Ethereum investors could see a significant price decline in the near future. However, it’s important to remember that predictions are not guarantees. The crypto market is volatile, and prices can change rapidly.
It’s always a good idea to do your own research and consult with a financial advisor before making any investment decisions.
