Ethereum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-potential-downtrend-alerted-by-analyst-benjamin-cowen" rel="noopener noreferrer nofollow">Ethereum’s Potential Downtrend Alerted by Analyst Benjamin Cowen</a><br></p>
<p style="text-align: justify">Prominent cryptocurrency analyst Benjamin Cowen has expressed caution over Ethereum’s price trajectory, suggesting a possible steep decline. Cowen identifies a historical pattern indicating that Ethereum may have yet to reach its lowest value. According to his analysis, the current market behavior of Ethereum echoes previous cycles, signaling a potential drop.</p>
<h2 id="warning-signs-in-ethereum-s-price-activity">Warning Signs in Ethereum’s Price Activity</h2>
<p style="text-align: justify">Cowen draws parallels between the present Ethereum market and prior downturns, pointing out that during the last bearish phase, Ethereum didn’t reach a low until it invalidated an upward trajectory from a specific chart formation and retested a significant previous low.</p>
<p style="text-align: justify">Additionally, the analyst stresses the relationship between Ethereum’s value and its performance relative to <a href="https://en.bitcoinhaber.net/macroeconomic-datas-ongoing-impact-on-bitcoin-and-the-dollar" rel="noopener noreferrer nofollow">Bitcoin</a>. He notes the pattern of Ethereum’s value declining following a decrease in the Ethereum/Bitcoin (ETH/BTC) value ratio.</p>
<h2 id="analyst-stresses-importance-of-eth-btc-pair">Analyst Stresses Importance of ETH/BTC Pair</h2>
<p style="text-align: justify">Examining historical data, Cowen suggests that a breakdown in the ETH/BTC ratio could foreshadow a more substantial drop in Ethereum’s price, potentially to a level around $1,200. He indicates that a similar scenario occurred in the past, leading to a significant decrease in Ethereum’s value.</p>
<p style="text-align: justify">Cowen emphasizes the importance of monitoring the ETH/BTC trading pair, as its current wavering near support levels could precede a downward shift in Ethereum’s price. His analysis points to the necessity of vigilance among Ethereum investors and highlights the potential for the ETH/BTC ratio to serve as an indicator of incoming price movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereums-potential-downtrend-alerted-by-analyst-benjamin-cowen" rel="noopener noreferrer nofollow">Ethereum’s Potential Downtrend Alerted by Analyst Benjamin Cowen</a></h5>

Ethereum’s Potential Downtrend Alerted by Analyst Benjamin Cowen

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