💥Prominent analyst warns that Ethereum could face a severe price drop in the last three months of the year.
👉In recent months, the largest altcoin Ethereum (ETH) has continued to underperform Bitcoin, even worse than other competing altcoins.
👉Although the cryptocurrency market is expected to see a bull run by the end of the year, a prominent analyst claims that Ethereum's danger is not over yet.
👉Renowned analyst Benjamin Cowen has pointed out that if history repeats itself, ETH is at risk of a sharp drop of nearly 50% in Q4. He relied on data from 2016, when the altcoin's current price trend was similar.
👉The monthly chart of ETH in 2016 and at the present time shows similarities from January to September, so the analyst believes that the price of Ethereum will decrease in the last 3 months of the year. He shared that:
With Ethereum turning green in September, the pattern from 2016 is still playing out. If this continues, it would mean that its price will turn red in Q4, followed by a green first quarter in 2025.
