Crypto Money Analyst Benjamin Cowen, Ethereum (ETH) $1,793.26 He pointed out that it may also affect the prices. According to Cowen, especially macroeconomic developments and upcoming data explanations may be decisive in the short -term movements of Ethereum. Emphasizing the correlation between the stock markets and the crypto currency market, the analyst warned investors against possible price decreases. Ethereum was traded for $ 1,909 at the time of the article and made an increase of 4.7 %in the last 24 hours.
Weakness in the stock market can drag ETH down
Benjamin Cowen, especially in February and March, the market weakness can be moved to the first half of April. Analyst thinks that this process may be the pioneer of a greater reverse tendency rally. Cowen said that the customs uncertainty on April 2 and the macro data to be announced in April may suppress the markets. He said that such data may affect the expectations of inflation, especially in the positions of investors.
Another important element Cowen draws attention is the perception of investor. According to him, the markets begin to pricit this situation long before an official recession announcement. This means that there may be a major decrease before, and then a strong recovery is possible. Analyst argues that Ethereum has the potential to “return to home” within this scenario, that is, that it can be retreated to the low levels that it has previously tested.
Technical view and support levels for Ethereum
From a technical point of view, Cowen believes that Ethereum may fall to the logarithmic trend line. This points to $ 1,044. This region can be tested within a period in which recession pressures are felt intensely. However, after such a decrease, Cowen emphasizes that the level of $ 3,000 can become a strong support for Ethereum. Such ups and downs reflect the volatility in the nature of the crypto currency market.
Especially in recent weeks, the weakening of the S&P 500 index makes Cowen’s warnings even more meaningful. The direct reflection of the pressure in stocks to crypto currency investors brings the need to review investment strategies. Investors should pay attention not only to technical analysis, but also to macroeconomic developments and market sensitivity.
Cowen’s comments remind that Ethereum is shaped not only with its own internal dynamics, but also with a global economic atmosphere. In this context, investors need to listen not only to graphics, but also the economic developments in the broad perspective.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
