Peter Brandt Predicts Potential 38% Drop In Ethereum Price

According to U.Today, trading expert Peter Brandt has released a new analysis of Ethereum's price, predicting a potential 38% decline. Currently trading around $2,500 per ETH, Brandt's review suggests a bearish outlook for the digital asset. Despite a recent brief increase in price, Ethereum has not shown a buy signal, according to Brandt. Brandt's analysis highlights Ethereum's price action within two major ranges, with the current resistance level around $2,800 per ETH contributing to his bearish sentiment. He has set a target price of $1,551 for Ethereum, indicating a 38% drop from its current levels. Brandt's technical review suggests that this decline is a realistic possibility for Ethereum. The broader context of the cryptocurrency market shows Ethereum's weakness compared to Bitcoin and Solana, which are aiming for new historical highs and influencing the overall market. The correlation within the crypto market raises the question of whether a significant drop in Ethereum's price could impact other digital assets as well.