Peter Brandt Shifts Stance on Ethereum Price, Teases Moon Shot Setup

Renowned cryptocurrency trader Peter Brandt has surprised many in the digital assets community by changing his critical view on the largest alternative coin, Ethereum’s price.

Known for being bearish and at best cautious about the asset, Brandt now hints at the possibility of a strong upward move.

This shift comes just as the Ethereum price broke free after struggling to break through a significant resistance level around the $2,000 mark.

Brandt’s Chart Hints at a Big Move

It is worth noting that Peter Brandt, who has been trading markets for decades, shared a positive take on the Ethereum chart on May 9, 2025.

The chart tracked the coin’s price from 2021 and included a projection stretching to 2027.

Market data as of the time he posted the take on Ethereum shows the price was trading around $2,145. The coin’s chart shows a symmetrical triangle pattern.

This pattern often signals that a big move is coming and it may signal a trend change which could be positive or negative.

What caught attention was Brandt’s use of the phrase “moonshot setup,” which is often used when people expect a strong price increase.

This was a notable change in tone for someone who has rarely spoken positively about Ethereum.

In the past, Brandt had focused more on Bitcoin and other assets, often staying silent about ETH.

His post suggests he now sees potential in the coin’s current market structure. This shift matters because traders often look to Brandt’s charts for insight.

The chart also references Ethereum price’s peak of nearly $4,800 in 2021 and its low of about $1,000 in 2022.

By taking a long-term view, Brandt seemed to suggest that Ethereum could be gearing up for another major run.

However, this depends on how it handles upcoming resistance levels.

Ethereum Price Struggles with Resistance at $2,380

At the same time, another market analyst, Ali Martinez, pointed out a key price level to watch on Ethereum.

In a recent post, Ali noted that about 45.9 million ETH are held by people who bought in at around $2,380.

Because they are now in profit, many may sell once the price returns to that level, creating a hard-to-break barrier.

Notably, Ethereum tested that resistance on May 9. Like Brandt, Ali also shared a chart showing a symmetrical triangle.

Based on this current trend, both analysts agree that this pattern could lead to a breakout if Ethereum price can climb past the pressure point.

Is Ethereum Headed for $3,000?

As of this writing, CoinMarketCap data shows that the ETH price was trading at $2,341.84, up 13.35% in 24 hours.

It is worth noting that with the second-largest digital asset approaching $2,380, traders are asking curious to know if it can go higher.

If it breaks through cleanly, the price could rise toward $3,000.

In addition, Ethereum has once again demonstrated its dominance in the DEX ecosystem.

According to recent data, it recorded $166 million in net DEX inflows, cementing its adoption trend.

An earlier update stated that the Ethereum price is approaching a strong resistance area near the $1,850 price zone.

However, market watchers believe this current development and other resistance levels between $3,000 and $4,000 could shape the next stage of ETH’s move.

For now, all eyes are on that $2,380 mark as the next few weeks could bring a fresh rally if Ethereum price clears it.

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