TLDR
- Veteran trader Peter Brandt identifies a bullish pennant forming in Ethereum’s price chart.
- A breakout above $2,387 could push ETH toward a $3,611 target.
- The pattern follows Ethereum’s previous 50% rally in early May.
- Brandt dismisses claims of disliking ETH and acknowledges its long-term potential.
- A failed breakout may trigger a 21% drop to $1,879 support.
Veteran trader Peter Brandt suggests the Ethereum price may soon surge. His analysis highlights a symmetrical triangle pattern on the daily chart. A breakout could propel ETH toward new highs amid growing institutional interest.
Peter Brandt’s Bullish Ethereum Price Prediction
Peter Brandt recently shared a chart showing Ethereum’s symmetrical triangle formation. This pattern often precedes significant price movements but lacks directional bias. However, Brandt hinted at a bullish outcome by referencing ETH’s prior 50% rally.
Every dog has its day — woof woof $ETH pic.twitter.com/C84UeX3YUF
— Peter Brandt (@PeterLBrandt) June 9, 2025
If ETH breaks upward, the symmetrical triangle could evolve into a bullish pennant. A pennant signals trend continuation, reinforcing Brandt’s optimistic stance. A decisive close above $2,387 would confirm the breakout and target $3,611.
Brandt previously dismissed claims he dislikes Ethereum despite rarely discussing it. He acknowledged ETH’s long-term potential, calling its congestion pattern a setup for a moonshot. His latest analysis aligns with growing institutional confidence in Ethereum.
Key Levels to Watch for ETH Price
The bullish scenario depends on ETH holding above the pennant’s support. A daily close above the upper trendline would validate the uptrend. Conversely, failure to break out may trigger a 21% drop to $1,879.
Traders must watch for fakeouts near the pennant’s resistance. A rejection could extend the consolidation phase or worsen the downtrend. The $2,387 level remains critical for maintaining bullish momentum.
BlackRock and other institutions have recently shown renewed interest in Ethereum. If the breakout occurs, their involvement could amplify buying pressure. Brandt’s technical outlook aligns with broader market optimism for ETH.
Ethereum price stands at a pivotal juncture with high breakout potential. Traders await confirmation of Brandt’s bullish pennant pattern. The next few days could determine whether ETH rallies or retreats.
