Analyst: Ethereum Unlikely to Hit New All-Time High in 2026; Watch for Bull-Trap Near $4,878
Analyst Ben Cowen says Ethereum (ETH) is unlikely to make a new all-time high in 2026 unless Bitcoin (BTC) exits any bear market — ETH remains tightly correlated with BTC cycles. Cowen warns a rapid move toward ETH’s prior peak of $4,878 could be a bull trap that reverses sharply toward the $2,000 support area, exposing late buyers to losses. He also noted Ethereum is the only altcoin he considers capable of reclaiming its ATH eventually, while many smaller altcoins have “exhausted their momentum.” Other market voices cited broader downside risk for BTC and ETH: trader Peter Brandt projected BTC could fall to $60,000 by Q3 2026, and Fundstrat flagged a potential 2026 drawdown that could push ETH to $1,800–$2,000. Actionable takeaways for traders: monitor Bitcoin’s market phase closely; treat any swift ETH approach to $4,878 as a potential sell, hedge, or high-risk short opportunity; consider accumulating near $2,000 if you trust ETH’s fundamentals and dollar-cost averaging; avoid chasing smaller altcoins that lack momentum. Keywords: Ethereum, ETH, Bitcoin, BTC, all-time high, bull trap, $4,878, $2,000, altcoins.
Bearish
The coverage emphasizes downside risk for ETH tied to Bitcoin’s market phase and warns of a plausible bull-trap scenario at the $4,878 level that could trigger a sharp reversal toward $2,000. Combined analyst views (Ben Cowen’s correlation-based caution, Brandt’s BTC downside projection, and Fundstrat’s potential drawdown for ETH) point to stronger near-term downside risk for ETH price action. For traders, that implies: increased volatility and risk of failed breakouts (favouring protective hedges, tight stops, or short setups on rapid ATH retests); potential accumulation opportunities only at materially lower levels (~$1,800–$2,000) for longer-term bulls; and reduced probability of sustainable, broad-based altcoin rallies this cycle. Overall, the expected price impact is negative given the high BTC–ETH correlation and multiple bearish scenario estimates.