Ben Cowen: Ethereum is unlikely to reach new highs in 2026

2026 has been a difficult period for the cryptocurrency market: since the start of the year, each of the five largest crypto assets by market capitalisation has posted double-digit losses. Among this group, Solana ($SOL) has suffered the most, losing more than 47% of its value since January 1. To understand where the market may head next, we asked several leading modern artificial intelligence (AI) models to forecast the year-end prices of $BTC, $ETH, $BNB, $XRP and $SOL. Their answers were, to put it mildly, intriguing.

Ethereum continues to trade under pressure as investors assess whether the recent decline has reached exhaustion or if another wave of selling lies ahead. The second-largest cryptocurrency is struggling to regain momentum after a sharp drop from higher levels, prompting traders to focus on a key support zone that could determine the market’s next major move.

Ethereum was trading at $1,977 on June 1, entering its historically worst calendar month below the $2,000 level for the first time since 2023. At the same time, the monthly chart shows the CRT candle range low at $1,750, while the lower daily Bollinger Band sits at $1,936.

Ethereum was trading at $2,104 on May 25, holding slightly above the lower trendline of its channel after a 12% pullback from early May highs. Negative sentiment, ETF outflows, and high-profile $ETH sales continue to pressure a chart that currently lacks a clear bottom below $2,078.

Ethereum is trading at $2,129 on May 20, holding slightly above wedge support at $2,100 as 60 whale addresses exited the network over the past two months, while Binance futures sentiment has reached its most bearish level since the 2023 bear market.