Ethereum’s price has risen almost 10% in the past seven days. It is currently trading slightly below the important $3,400 mark.
This uptick is in line with the rest of the market, which is currently experiencing considerable bullish momentum following the correction that took place last week.
Source: TradingView
The price has dipped a bit in the past few hours after briefly touching $3.5K on Binance.
That said, one of the most popular prop traders with 50 years of experience, Peter Brandt, has recently commented on the ETH price, outlining the possibility of a considerable surge.
In a tweet from earlier today, Brandt shared his “perspective” on ETH, saying that “support was found at the lower boundary of 4+ month rectangle, which was a retest of the Feb completion of a horn bottom.”
Now, a a horn bottom pattern in technical analysis is referred to price action identified by two downward spikes embracing a tiny middle candle, followed by a sharp rally.
Here is Brandt’s chart:
Source: X
The interesting bit is that he said that the target for this pattern’s resolution is above $5,600. If it happens, this would mean an increase of around 64% for ETH.
The post Super Bullish Ethereum Price Prediction by Peter Brandt appeared first on CryptoPotato.
