Ethereum

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/ethereum-price-analysis-can-eth-reach-1993-according-to-peter-brandt/">Ethereum Price Analysis: Can ETH Reach $1,993 According to Peter Brandt?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> <iframe style="border-radius:12px" src="https://open.spotify.com/embed/episode/6acnPYcOUo5CmqVGCFb0Jf?utm_source=generator" width="100%" height="80" frameborder="0" allowfullscreen allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture" loading="lazy"></iframe> 
<p>Ethereum, after a dark period, is again rolling in an upward direction, as it has climbed from around $1,740 to surpass the critical $1,800 resistance level and avoided significant downward corrections. A Bullish call has driven its price beyond the 50% Fibonacci retracement level, while a substantial rising channel offers strong support near $1,800. This creates a crossroad for a sustained upward movement in Ethereum’s price, providing optimism for investors and indicating a positive trend. </p> 
<p>From here, what comes next will be a shocker for the investors. Let’s dig into the analyst chart to know more.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-analyst-charts-the-odds-in-eth-price-look-for-breakout-signs-strong"><strong>Analyst Charts the Odds in ETH Price- Look for Breakout Signs?&nbsp;&nbsp;</strong></h2> 
<p>Ethereum is currently trading at $1,836; achieving the projected target of $1,993 would require an 8.5% increase. This begs the question: do you think ETH has the potential to make this significant move?&nbsp;</p> 
<p>In a recent analysis, seasoned trader Peter Brandt, with over four decades of experience, has set a bullish target for Ethereum (ETH) at $1,993. Brandt’s <a href="https://x.com/PeterLBrandt/status/1719911006187704640?s=20">prediction </a>is based on Ethereum’s breakout from a right-angled expanding triangle pattern formed over several months. </p> 
<p>This pattern is known for its potential to signal a continuation of an existing trend or a reversal. Brandt’s chart analysis shows how Ethereum’s price movements fit this pattern, and he points out that Ethereum recently broke above the upper trendline of the triangle, indicating a potential uptrend.</p> 
<h2 class="wp-block-heading" id="h-what-next-in-ethereum-price"><strong>What Next in Ethereum Price?&nbsp;&nbsp;</strong></h2> 
<p>Setting all eyes on the chart, Ethereum formed a flag pattern after the breakout, often seen as a consolidation phase before a possible continuation of the trend. As of the latest data, Ethereum is trading at around $1,836, and Brandt’s target of $1,993 implies an 8.5% increase from the current price. Ethereum has shown strength, with increased trading volume and a positive price trend. </p> 
<p>There is a strong possibility that the retracement level of the downside correction from the $1865 swing high to the $1740 low. Additionally, there is also a central rising channel that is forming with a support building near the $1800 level on the hourly ETH/USD chart.</p> 
<p>Although sellers have attempted to exploit this market flux, the buyers have steadfastly maintained a floor at $1,750. Consequently, the coin price oscillates between this support level and the overhead trendline.</p> 
<p>Remember that the crypto market is volatile, and price predictions are subject to change. Therefore, while this analysis suggests a bullish scenario for Ethereum, it’s essential to monitor the market and stay updated on the latest developments.</p>

Ethereum Price Analysis: Can ETH Reach $1,993 According to Peter Brandt?

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