Super Bullish Ethereum Price Prediction by Peter Brandt

The price of Ethereum has increased by almost 10% in the last seven days. It is currently trading slightly below the important $3,400 mark.

This rally is in line with the rest of the market, which is currently experiencing significant upward momentum following the correction that took place last week.

Source: TradingView

The price has dropped a bit in the last few hours after briefly touching $3.5K on Binance.

That said, one of the most popular accessory traders with 50 years of experience, Peter Brandt, recently commented on the price of ETH, pointing to the possibility of a considerable increase.

In a tweet today, Brandt shared his “perspective” on ETH, saying that “support was found at the lower boundary of the 4+ month rectangle, which was further evidence of the completion of a horn bottom in February”.

Now, a horn bottom pattern in technical analysis refers to price action identified by two downward peaks embracing a small average candle, followed by a strong rally.

Here’s Brandt’s chart:

Source: X

Most interestingly, he said that the target for the resolution of this pattern is above $5,600. If it happens, that would mean an increase of around 64% for ETH.

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