Peter Brandt, a well-known commodity trader with a long and successful trading career, has discovered a pattern that shows that Ethereum, the second largest cryptocurrency that Brandt often criticizes, could soon rise significantly.
Brandt has published an ETH chart, but he rarely. If such charts are featured in his tweets, those posts are largely negative about Ethereum. However, this time the trader shared a bullish ETH price outlook with his X-follower.
This pattern could potentially support ETH moonshots, Brandt says
In the tweet, the deal legend admits that he doesn’t like not to say anything good about Ethereum, and this attitude has earned him a “ETH-hating” reputation in the community. “I think you’re right,” he admits. He frequently calls Ethereum a “broken utility coin.”
I usually get in the way not to say good things about $eth
You can call it “hate” – I think you’re right
However, this crowding pattern may support the moon shot pic.twitter.com/vmlm52fajt-Peter Brandt (@peterlbrandt) May 9, 2025
But he added, “This crowding pattern can support moon shots,” and spoke about the charts he posted. It shows that the ETH is currently moving within a long-term symmetric triangle pattern. And according to the charts, ETH has been running this pattern since 2021.
Peter Brandt says that if ETH overcomes a $2,150 resistance level, it could target over $4,000. The last time ETH was able to rise was November 16, 2021, reaching an all-time high of $4,891.
Now, after a recent 33% surge in just one day, Ethereum is changing its hands at $2,370. This is 51.69% below the historic peak in 2021.
Ethereum ICO whales continue to dump ETH
Ethereum has been rallying for the past few days, and has surged more than 38% between Wednesday and Friday, but there are whales that continue to sell it, and he was a participant in Ethereum ICO, the first first coin offering in history.
Despite the recent $ETH rally, participants at this #ethereum ICO have chosen to continue selling.
Three hours ago, the whale received $76,000 ETH (which costs $23,560) from Genesis three hours ago, and the remaining $1,900 ETH ($4.44m) was #kraken.https://t.co/upyomoluqy pic.twitter.com/jckhmuz1ca
– lookonchain (@lookonchain) May 10, 2025
The whale received 76,000 ETH, which he purchased from the Genesis block for just $23,560, for just $0.31 per ETH. Today he sold the remaining 1,900 ETH at Kraken for $4.44 million. Before that, he sold 5,200 ETH on May 7, 1,500 ETH on May 4, and 3,000 people on April 17.
That day he was out of three years of dormant.