Trader Peter Brandt predicted the Ethereum rate to fall to $300
The analyst also noted that at this point he would not buy the asset
20.06.2022 - 15:30
829
2 min
0
The material is not an investment recommendation and is published for information purposes only.
What’s new? Trader and analyst Peter Brandt believes that Ethereum could face a 70% devaluation from current prices. According to him, the value of the asset could drop to the $300 mark.
The chart suggests a target of $300. Targets are not sacred -- sometimes they are hit, sometimes not, sometimes exceeded. But for now I would not buy $ETH with my enemy's money $ETH pic.twitter.com/syZvhGxve2— Peter Brandt (@PeterLBrandt) June 18, 2022
What else does Brandt say? He explained that the price of Ethereum, having formed a head and shoulders pattern on the chart, continued to decline, and could fall to $300 in the future. However, Brandt added:
“The chart suggests a target of $300. Targets are not sacred – sometimes they are hit, sometimes not, sometimes exceeded. But for now, I would not buy ETH with my enemy’s money ETH.”
When Ethereum was trading above $1 700, Brandt stated that the asset was forming a descending triangle, a trend continuation pattern indicating the possibility of further price declines.
As of June 20 at 3:00 UTC, Ethereum is trading at $1142, according to Binance.
Who is Peter Brandt? He is a cryptocurrency analyst and trader who has been working in financial markets for more than 40 years. Brandt is the creator of Factor Trading, a service that provides expert reports and analysis of asset value charts.
At the end of May, Peter Schiff, head of Euro Pacific Capital and chairman of the SchiffGold investment fund, predicted that Ethereum would fall to a low of $1 000.
Useful material?
Market
According to the preliminary plan, the free coin giveaway will take place in January 2025
Dec 27, 2024
Market
The fund’s issuer will be Donald Trump associate Vivek Ramaswamy’s Strive company
Dec 27, 2024
Market
Digital assets have made it easier to conduct transactions in the face of sanctions
Dec 25, 2024
Mining
The restrictions are designed to maintain the balance of energy consumption, taking into account the demands of the industry
Dec 24, 2024
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024