A widely followed crypto analyst says that Ethereum (ETH) looks set to reach a new all-time high within the next few months.
In a new strategy session, Benjamin Cowen tells his 917,000 YouTube subscribers that the second-largest digital asset by market cap has met his previous criteria of forming a higher macro low, therefore setting it up for an eventual push to new highs.
“For a long time, my bias was that it made sense to fade Ethereum because it was going to bleed against Bitcoin, and it needed to go home. It needed to form a macro higher low. Now, that’s happened. So, what is my bias now, right? Well, my bias now is that it will make new all-time highs and I’m going to say no later than December.”
Cowen sees Ethereum hitting its market cycle top before January 2026, with a maximum price tag of $7,500.
“I think the top for Ethereum for this market cycle will occur no later than January, and it could very well occur before that. It depends on what happens. So let’s suppose that Ethereum does go to a new all-time high this cycle and let’s suppose it happens within the next 5 to 6 months…
We did this whole video on the butterfly effect, where essentially if you go through the butterfly effect, it calls for a price of Ethereum, potentially of $5,300 to as high as $7,500. So, I say that again. $5,300 to $7,500 is a range that would be justified if you believe in that butterfly harmonic pattern that we’ve been following for a while.”
The butterfly effect refers to a harmonic pattern Cohen believes Ethereum is following, one that leads to a cycle top and an ensuing bear market.
Ethereum is trading for $3,499 at time of writing, a 3% increase during the last 24 hours.
Generated Image: Midjourney
