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

Table of Contents

BH NEWS

Other articles published on Feb 20, 2024

Record Bitcoin Exodus from Coinbase Signaling Investor Strategies

The BEST $1500 Crypto Portfolio for 2024

Japan advances legislation to enable investment funds to hold crypto assets

Insider Alpha Reviews Low Market Cap Crypto Presale with 100x Potential

New Crypto AI Presale Raises Over $500,000 – Is $SCOTTY the Best Crypto to Buy Now?

Daily Price Review: BTC, ETH, BNB, XRP, DOGE

Join our free newsletter for daily crypto updates!