crypto analyst Benjamin Cowenreleased its predictions for what might happen next for Ethereum (ETH) as leading smart contract platform Ethereum (ETH) retraces the $3000 level.
Speaking in a new video published on his YouTube channel, Benjamin Cowen reminded that the largest altcoin has been trading at a level between 2000 and 4000 dollars for almost a year.
Given the length of the consolidation, Cowen Ethereum (ETH) He thinks he will eventually reciprocate. Cowen also does not think that Ethereum will be able to devote a year or more to this consolidation phase.
Cowen also noted that he is currently watching the 2016 price action, where ETH traded sideways for about a year before rising to new highs.
“Ethereum is in this type of move where there is a pushback from the theoretical bear market floor. You have some kind of impulsive move there and then for the better part of the year you go sideways and you can eventually go up.”
Cowen, EthereumHe thinks the price will likely record all-time highs in the middle of this year if the market can follow the 2016-2017 market structure.
“I want people to look at these fractals not with the idea that they should be, but through the same lens that retail investors once felt the way we do now. The feelings were the same. The prices were different but the feelings were the same.
What I’m looking for is for it to follow this fractal until it breaks. The reality is that we consolidate a little bit and then we just start going higher and if it keeps playing then maybe we can hit all-time highs by May, June, July, at least something like me can happen. ”
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