Renowned cryptocurrency trader Peter Brandt has changed his critical view of Ethereum, hinting at significant growth potential for the asset.
Brandt’s Change of Position
Peter Brandt, known for his bearish views on Ethereum, is now considering the possibility of a significant price increase for the cryptocurrency. This shift comes after Ethereum broke through a critical resistance level around $2,000. Brandt shared a positive analysis of Ethereum’s chart on May 9, 2025, noting a symmetrical triangle that typically signals potential price movement.
Resistance at $2,380
Analyst Ali Martinez also pointed out a key price level at $2,380, where approximately 45.9 million ETH are held by those who purchased the asset at that price. If the price returns to this level, many holders may sell, creating a significant barrier to further growth. Ethereum tested this resistance on May 9, and both analysts agree that breaking through this pressure point could lead to a breakout.
Prospects for Reaching $3,000
At the time of writing, the price of Ethereum stands at $2,341.84, up 13.35% in the last 24 hours. Should Ethereum clear the $2,380 resistance, the price could rise toward $3,000. Recent data also indicates Ethereum's continued dominance in the crypto market, showcasing $166 million in net DEX inflows, highlighting its adoption trend.
Market observers continue to monitor Ethereum's developments, particularly around the $2,380 threshold, which may prove critical for future growth and trend shifts for this cryptocurrency.
