A popular crypto analyst has outlined his predictions for Ethereum's (ETH) trajectory throughout the rest of 2024.
In a recent video, Benjamin Cowen shared his opinion that, based on past market trends, ETH is unlikely to climb above $3,000 if it experiences a rally this year.
Cowen explained that Ethereum has been in decline since March, and he believes that any potential rally would be capped at around $3,000. He also suggested that ETH may face resistance from the bull market support band in 2024, but could break through it next year.
He further speculated that Ethereum’s lowest point in this market cycle will likely occur by the end of 2024, pointing out that in previous cycles, ETH hit its low in December before recovering.
Cowen added that if historical patterns hold, Ethereum may not see a sustained rise to new highs until 2025, although reaching $3,000 is still a possibility, albeit challenging.
While Bitcoin continues to capture attention with its strong 2025 outlook, several altcoins may be facing near-term turbulence.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.
Ethereum appears to be entering a pivotal stage, with subtle shifts across its ecosystem hinting at a potential breakout.
Ethereum could one day surpass Bitcoin in value, not through speculation, but by anchoring a new kind of financial system, according to a key blockchain executive.