Experienced analyst of the cryptocurrency market, Benjamin Cowen, suggested that there may be a collapse in the price of Ethereum (ETH) up to $ 400.
Analyst Benjamin Cowen, in a broadcast on YouTube on September 10, previously said Ethereum One step further in his analysis for carried forward and it has drawn a disaster scenario for the crypto money market.
The analyst took a technical look at the Ethereum chart, emphasizing that a big drop is now on the table. In Cowen’s statements, for Ethereum A free fall towards the $400-800 band took place.
However, in the event of such a serious decline, the analyst 2023 is for both bears and bulls He stressed that it will be a year full of losses.
There is a good chance of a lower bottom, and it may not be a much lower bottom, maybe just below $800. It may fall even further. It could go down to $600, $500 or $400.
As it can be understood from his words, the analyst, who avoids drawing a clear picture, said that Ethereum was in this process. dead cat bounce by making movements like both bear directionally positioned investors both bull He stated that it can tire investors who want to take directional transactions.
Cowen also said that after the decline volatility may decrease and for a while depression process He argued that he could maintain his dominance:
Then all year long both sides think they are right all year long, but they are actually only right half the year, and the other side is right the other half of the year, but at the end of the year everyone is screwed.
Cowen, Ethereum‘s previous Observe the declines experienced during the summer months despite the fact that he put it in front of him and generally said that people will be different this time A similar decline may occur had stated
According to CoinGecko data, in the last 24 hours 3.4% depreciating Ethereum, at the time of writing from $1,562 finds buyers.