Here’s a realistic long-term Ethereum price prediction, says crypto analyst Benjamin Cowen

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Crypto analyst and trader Benjamin Cowen reveals what he thinks is the future of Ethereum (ETH) in 2022.

In a new strategy session, Cowen told his 663,000 YouTube subscribers that Ethereum is in a consolidation phase for most of 2021.

To get a feel for what might happen next for ETH, the analyst looks at previous consolidation phases in 2016 and 2017, both of which preceded massive breakouts to the upside. Cowen says a combination of these two phases is likely to await Ethereum today.

“What I’m thinking is that it probably won’t be one or the other. It could be a mixture of the two. Maybe we do something in the middle and we burst. I’m not sure exactly, but I would expect Ethereum to hit all-time highs in 2022 and potentially continue to advance until 2023, but I think it’s highly speculative to rely on that at this time.

Cowen notes that Ethereum’s current consolidation phase is similar to 2016 in that it stays within a 2x window. While ETH was between $ 8 and $ 16 in 2016, it hovered between $ 2,000 and $ 4,000 for most of 2021.

The analyst says Ethereum’s consolidation could last until mid-2022, but a breakout will be the likely end result.

“The trick is, this can’t go on forever without eventually entering a bear market. So I imagine we get some kind of upward movement. I don’t know how far it will go. I would expect $ 10,000 to be a reasonable target. We could even go up to $ 20,000. It’s hard to know… I imagine continuous sideways movement for a little while, especially with Bitcoin looking a bit weak at the moment.

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