Crypto analyst Benjamin Cowen will be considering the state of Ethereum after the market dip, shading off nearly $600 billion off the digital asset markets.
Furthermore, Analyst Benjamin notes that Ethereum will always consolidate for a long time before hitting a major bull run. Of course, this is exactly as in 2016 and 2019.
More so, as per Benjamin, ETH’s recent correction is still in the consolidation phase.
So, Analyst Benjamin explains.
“I do think we’ll go up again, but we just haven’t reached that phase yet…”
“We haven’t reached that phase. We’re still in what I would consider long consolidation,..”
“and I don’t think we’re going to go up to these prices up here [$50,000+] certainly,…”
“but I would argue that Etheruem is still very much in a long sideways accumulation,..”
“long consolidation.”
More so, Analyst Benjamin goes ahead to note that there’s still hope for a rally in the Q4. Then, confirms how Ethereum is still in the game and will surprise many.
Lastly, Analyst Benjamin concludes.
“Ethereum still looks relatively strong. I would argue that it’s a solid play to have in your portfolio…”
“A lot of altcoins bleed against Ethereum. Ethereum’s a blue chip…”
“The technology is great. It’s holding up well against Bitcoin…”
“It’s holding well against the US dollar despite the circumstances. Don’t forsake Ethereum.”
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