Peter Brandt, a known trader, has altered his views on Ethereum, identifying new resistance levels and the asset's growth potential.
Peter Brandt's Revision on Ethereum
Peter Brandt, known for his cautious views on Ethereum, has shifted his stance, suggesting that the asset may be preparing for an uptrend. On May 9, 2025, he shared a chart illustrating a symmetrical triangle pattern in Ethereum's price trajectory, often indicating a change in trend direction.
Key Resistance at $2,380
Analyst Ali Martinez identified $2,380 as a critical price level for Ethereum. Data shows that approximately 45.9 million ETH were acquired near this level, creating a concentration of holders who may sell to secure profits. Both analysts noted that the symmetrical triangle formation could signal a breakout if buying pressure outweighs selling activity.
Current Market Performance and Outlook
As of this report, Ethereum is trading at $2,341, reflecting a 13% gain over 24 hours. Sustained movement above $2,380 could propel the price towards $3,000, though further resistance exists between $3,000 and $4,000. Despite the positive outlook, the market remains uncertain, and failure to hold above $2,300 might trigger a retreat.
Peter Brandt's shift in outlook on Ethereum highlights the current state and potential changes in the market. Traders are monitoring the dynamics, awaiting possible growth and price adjustments.
