Is Now a Good Time to Invest in Ethereum?

An on-chain analyst is bullish on Ethereum (ETH), highlighting an attractive risk-reward scenario for potential investors.

Ali Martinez sees ETH forming a promising ascending channel on its weekly chart. He believes the risk-to-reward ratio is favorable for long positions, with a stop set below $1,880 and a price target of $6,000.

Martinez’s analysis indicates that ETH is currently resting on the lower trend line of this ascending channel, which serves as a support level, and could soon challenge the upper boundary around $6,100.

In contrast, fellow trader Benjamin Cowen warns that historical trends suggest Ethereum might drop to its logarithmic trendline, potentially hitting as low as $1,000.

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He points out that past cycles show ETH often bottoms out in the fourth quarter, suggesting that a return to this trend may occur within a couple of months. Cowen recalls similar patterns from 2016 and 2019, where ETH reached lower logarithmic correction trendlines before rebounding.

As of now, ETH is trading at approximately $2,442, reflecting a 0.6% decline over the past day.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.