Expert Analyst Approaches Ethereum Price for 2026 with Caution

Crypto analyst Ben Cowen expressed that it does not seem likely for Ethereum (ETH) to reach new highs in 2026. Cowen warned that potential record attempts could be a misleading rally for investors. While expectations for the crypto markets in 2026 are being discussed, experienced analyst Ben Cowen highlighted in the Bankless podcast that the ongoing weakness in Bitcoin (BTC) is also putting pressure on Ethereum.

According to Cowen, if Bitcoin is truly in a bear market, it would be quite difficult for Ethereum to exhibit a strong rally on its own. The analyst noted that even if Ether were to test its all-time high again in 2026, it may not lead to a sustainable bull run. He also issued warnings that the potential rise could be a trap.

Cowen stated that if the price of Ethereum rises again to $4,878, this could be a 'bull trap,' meaning a short-lived rally that misleads investors. In this scenario, he mentioned that the price might drop sharply towards the $2,000 range. Looking at current levels, witnessing this peak would imply a rise of approximately 40%.

Ethereum had briefly approached record levels in August but then entered a downtrend, falling to around $2,700 in November. Cowen thinks that even if such an increase occurs, it is unlikely to create a ripple effect for the overall altcoin market.

According to the analyst, the only altcoin that could have a chance of reaching a new peak in this cycle may be Ethereum. Cowen stated that this possibility has largely vanished for many other altcoins. On the other hand, renowned trader Peter Brandt predicts that Bitcoin could drop to around $60,000 in the third quarter of 2026. Similarly, Fundstrat Global Advisors warns its investors that Ethereum could fall to the $1,800 to $2,000 range in 2026.