Expert Analyst Approaches Ethereum Price for 2026 with Caution

Crypto analyst Ben Cowen stated that it seems unlikely 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 market in 2026 are being debated, experienced analyst Ben Cowen emphasized in the Bankless podcast that the ongoing weakness in Bitcoin (BTC) is also putting pressure on Ethereum.

According to Cowen, if Bitcoin is genuinely in a bear market, it will be quite difficult for Ethereum to exhibit a strong rally on its own. The analyst noted that even if Ether tests its all-time high again in 2026, this might not signify a sustainable bull run. He also issued warnings that any potential uptick could be a trap.

If the price of Ethereum were to rise back to 4,878 dollars, Cowen indicated that this could be a 'bull trap,' meaning a short-lived rise that misleads investors. In this scenario, he mentioned that the price could decline sharply towards the 2,000 dollar range. From current levels, reaching this peak indicates an approximately 40% increase.

Ethereum had briefly approached record levels in August but then entered a downward trend, dropping to around 2,700 dollars in November. Cowen believes that even if such an increase occurs, it is likely to have a minimal cascading effect on the overall altcoin market.

According to the analyst, Ethereum might be the only altcoin with the potential to reach a new high in this cycle. Cowen stated that the likelihood of this for many other altcoins has largely diminished. Additionally, famous trader Peter Brandt anticipates that Bitcoin could drop to around 60,000 dollars in the third quarter of 2026. Similarly, Fundstrat Global Advisors warns investors that Ethereum might drop to a range of 1,800 to 2,000 dollars in 2026.