Ethereum New Price Prediction For May

It’s been revealed that we have a new ETH price prediction out. Check out the latest reports below.

Benjamin Cowen said not too long ago that Ethereum (ETH) is heading toward a big move in about three months.

In a new strategy session, Cowen said that ETH is trading within a large wedge pattern that could lead to a breakout by May of this year.

Cowen explained the fact that the downside of the wedge is what he thinks is the “deep value” zone for Ethereum, between the $600 to $1,000 price range.

“Eventually, it’s going to have to break out one way or another because this is sort of coming to an endpoint by May. So I would expect us to either break to the upside or the downside by May.”

He continued and said this:

“Of course, you guys know my opinion, I would prefer to see it go home to the regression line [or] regression trendline because that’s ultimately where I think the deep value can be found in the same way it was found over here in 2018, the same way it was found in 2020. So I think that’s worthwhile to continue watching.”

March marks the primary significant event within the Ethereum ecosystem since the network moved to Proof-of-Stake (PoS) last year. Everything will happen after the completion of the upcoming update. The 16 million ETH coins currently locked in staking are going to be available to network validators for withdrawal to their own wallets. On Wednesday, February 1, the developers launched a test network to simulate the likelihood of withdrawing coins from staking, RBC Crypto reports.

As a part of the update, Ethereum will activate several more useful technical features. The developers and advanced users will surely notice. But the focus of the crypto community is precisely on the likelihood of withdrawals by validators.