$1,100 Ethereum Could Be Coming Before Real Rally Kicks Off, According to Benjamin Cowen – Here’s Why
By: the daily hodl|2025/05/13 22:45:04
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Popular crypto analyst Benjamin Cowen thinks the top two digital assets could plunge in value over the next few months.In a new YouTube video, Cowen tells his 896,000 subscribers that Bitcoin (BTC) could swing below the bull market support band in August, potentially dropping to the $64,000 range.The bull market support band is formed by the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA).Cowen notes that BTC dropped below the band in August and September of 2023 and July, as well as in August and September of 2024.The analyst predicts that if Bitcoin drops to that level, Ethereum (ETH) could fall close to $1,000.“I would contend that Ethereum might not go lower than $1,100, because that is where the lower logarithmic regression trendline is, and the final low before a really big rally happened last cycle was around $116-$120 – 10x that, $1,100 to $1,200.” Source: Benjamin Cowen/YouTubeCowen says the logarithmic regression band is designed to track the fair value of an asset using “non-bubble data.” The analyst also sees the possibility of the crypto market igniting a real rally in Q4 of this year.ETH is trading at $2,480 at time of writing. The second-ranked crypto asset by market cap is down more than 1% in the past 24 hours.BTC is trading at $102,536 at time of writing and is down more than 1.5% in the past day. Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price ActionSurf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.Generated Image: MidjourneyThe post $1,100 Ethereum Could Be Coming Before Real Rally Kicks Off, According to Benjamin Cowen – Here’s Why appeared first on The Daily Hodl.
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