Popular cryptocurrency trader and analyst Peter Brandt has given his Ethereum forecast in anticipation of the launch of spot Ethereum ETF trading in the US. In his opinion, the cryptocurrency is on the verge of growth.
Previously, the legendary trader, who managed to correctly predict the 2018 crypto winter and many other market movements, has repeatedly criticized ETH.
Peter Brandt believes that Ethereum’s next target will be levels above $5,600. In his opinion, the cryptocurrency has found support near the bottom of the rectangle, which took more than four months to form. Technical analysis of the cryptocurrency chart, in his opinion, indicates the potential for significant growth of ETH in the near future.
Let us recall that the absolute maximum of Ethereum was recorded on November 16, 2021 at $4,891. As of the time of writing, the cryptocurrency is trading almost 30% cheaper.
Peter Brandt accompanied his post with a chart with markings. It also shows a rectangle, the exit beyond the upper edge of which, according to the analyst, can lead the cryptocurrency to a new absolute maximum.
Positive Ethereum Forecast from Peter Brandt supported trader Yoddha. He drew attention to the fact that a protracted consolidation could give ETH the strength needed for active growth. According to his calculations, the cryptocurrency has prospects for moving to levels above $10,000. The peak of Ether’s growth, according to the trader, will be recorded in 2025.
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Source: Cryptocurrency
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