According to TOP analysts, this is ETH’s long-term price target

December 20, 2021 - Around 2 mins mins to read

Leading analyst Benjamin Cowen reveals what he believes will happen to Ethereum (ETH) in early 2022.

In one Video Cowen told his 663,000 YouTube subscribers that Ethereum could soar to at least $ 10,000 by the end of this cycle.

To get an idea of what might happen next for ETH, the analyst looks at previous consolidation periods in 2016 and 2017, both of which preceded both major breakouts. Cowen said a combination of these two phases could wait for Ethereum.

“I think it couldn’t be both, but a combination of both. Perhaps the ETH will move in the middle and then break out. I’m not sure, but I would expect Ethereum to hit an all-time high in 2022 and possibly extend its rally to 2023. ”

Weekly ETH / USD Chart | Source: Benjamin Cowen

Cowen notes that the current consolidation phase of Ethereum 2016 is similar in that it moves very similarly during the doubling phase. While ETH fluctuated between $ 8 and $ 16 in 2016, it moved between $ 2,000 and $ 4,000 in the second half of 2021.

The analyst says Ethereum’s consolidation could continue until mid-2022, but eventually there will be an outbreak.

“After the consolidation phase, I think that ETH will make some upward movements. I don’t know how high it will go. $ 10,000 is a reasonable goal. It can even go as high as $ 20,000. It’s hard to say … ETH could continue to move sideways in the short term, especially since Bitcoin looks a bit weak at the moment. ”