Ethereum

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Crypto analyst Benjamin Cowen, known for his “Into the Cryptoverse” channel, warns that Ethereum’s price could plummet to $1,200 by December. He highlights a wedge pattern in the current cycle, similar to one seen in 2019, but with a significantly longer duration.
In a <a href="https://x.com/intocryptoverse/status/1833330119185698833" target="_blank" rel="noopener noreferrer nofollow">post</a> on social media platform X (previously known as Twitter), Cowen added that Ether has formed a wedge in the current crypto cycle that includes higher lows, similar to the ones during the 2019 cycle but with ~10x the length.&nbsp;
<a href="https://coinedition.com/blockchain-revenue-report-tron-leads-ethereum-follows/" rel="noopener noreferrer nofollow">Read also: Blockchain Revenue Report: Tron Leads, Ethereum Follows</a>
Cowen notes that during the 2019 cycle, ETH fell back into the wedge before the Federal Reserve announced rate cuts. This, he suggests, led to the bottom for the ETH/BTC pair in 2019, after which Ethereum saw a substantial price increase.
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When asked about the potential price level for an ETH/BTC bottom, Cowen replied:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “$1200 by December is my guess. In 2016 and 2019 ETH / BTC broke down, and ETH / USD dropped 70% to 0.300 risk. 0.300 risk right now is $1208. That would represent a soft landing IMHO, then up in H1 2025.”
</blockquote>
Another crypto analyst, Chris McCrypto, disagrees with Cowen’s predictio…
The post <a href="https://coinedition.com/ethereum-could-plummet-to-1200-by-december-analyst-warns/" rel="noopener noreferrer nofollow">Ethereum Could Plummet to $1,200 by December, Analyst Warns</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Ethereum Could Plummet to $1,200 by December, Analyst Warns

Coin Edition

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