Ethereum unlikely to reach new highs in 2026: Ben Cowen

💡 DMK Insight

Ether’s current price at $2,963.01 is crucial as it flirts with resistance levels that could signal a bull trap. Analysts like Ben Cowen suggest that if ETH were to reclaim its all-time high, it might not be a sustainable move but rather a setup for a sharp reversal. Traders should keep an eye on the $3,000 mark, which has historically acted as a psychological barrier. If ETH breaks above this level, it could attract momentum traders, but a failure to hold could lead to significant sell-offs. The broader market context shows that while there’s optimism around ETH, especially with upcoming upgrades and institutional interest, the risk of a bull trap looms large. This could lead to cascading effects on related assets like BTC, which often moves in tandem with ETH. Watch for volume spikes and market sentiment shifts as key indicators of whether this rally has legs or if it’s time to tighten stops.