A popular crypto analyst is warning Ethereum (ETH) investors about a potential crash in December.
Analyst Predicts December Dip
Benjamin Cowen, a well-known crypto trader with a large following on social media, believes ETH could drop significantly in December based on historical patterns. He points out that ETH experienced major drops in April, August, and December of 2016, and again in April and August of 2024. He thinks a similar pattern could play out this year, with a final dip in December.
ETH/BTC Pair Also at Risk
Cowen also predicts that the ETH/BTC pair, which measures the value of ETH against Bitcoin, could drop to as low as 0.036. He says this could happen if the pair fails to hold its current support level of 0.038. He believes the low point for this pair will likely be reached before the end of the year, potentially as early as the second week of January.
50-Day SMA Key Indicator
According to Cowen, the ETH/BTC pair won’t hit its low until it fails to break above its 50-day simple moving average (SMA). He explains that in previous cycles, ETH/BTC experienced a strong move above the 50-day SMA after reaching its low point.
Important Note: This information is for educational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions.
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