Benjamin Cowen is sticking with his long-standing thesis: Ethereum is on track to hit $5,300 in the current cycle. Despite recent volatility, he believes last week’s drop was just part of a healthy correction and that ETH is already starting its push toward new all-time highs.
Cowen’s Outlook – Key Points
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30% drop was expected – Cowen had anticipated a 30% pullback after ETH’s first rally toward new highs. That’s exactly what played out.
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Recovery confirms strength – ETH has already bounced back to over $4,100, showing strong demand even after the correction.
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$5,300 is the minimum target – Cowen remains confident ETH will reach this level before year-end, based on historical regression models.
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Narratives change, cycles repeat – Each cycle has its own "reason" for corrections, but Cowen argues the technical pattern always repeats regardless of the news.
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ETH wick to $3,500 was key – He previously predicted a quick wick to this level before heading higher – and that exact move just happened.
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Cycle timing matters – With time running out in the four-year cycle, ETH must move fast if it’s going to top out this year.
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Will admit if wrong – Cowen says he’ll reconsider if BTC closes below its 50-week MA. Until then, he’s holding his view.
Final Takeaway
Cowen remains bullish on Ethereum and expects a move above $5,000 soon. While corrections are normal, he sees them as part of a larger structure playing out toward new highs before the current cycle ends.
