Ethereum (ETH) about to explode? Peter Brandt changes course, sees strong bullish signal

Peter Brandt, known for his bearish forecasts, changes course. His technical analysis reveals a strong bullish signal, suggesting a possible “moon shot“.

Since 2021, ethereum has been evolving in a symmetrical triangle configuration, a classic pattern often signaling a strong directional breakout. Peter Brandt, accustomed to bearish projections on ETH, now sees a major bullish opportunity.

The support is around 2,150 dollars, tested several times. Approaching upper resistance would be the trigger point for a possible “moon shot”.

In case of a confirmed breakout:

* Relative strength analysis indicates a strong bullish bias.

* The symmetrical triangle has been forming for a long time, concentrating price action.

* This breakout could propel ETH towards 4,000 dollars.

Peter Brandt: from a bearish scenario to a strategic turnaround

Long considered one of Ethereum’s toughest critics, Peter Brandt recently targeted abyssal levels below 800 dollars. His turnaround is surprising: the analyst now sees a potential explosion. The descending triangle has thus given way to a clear bullish figure. For Brandt, ETH is no longer to be buried but closely watched.

Especially since ethereum has gained more than 30% in one week, overcoming several intermediate resistances including the crossing of 2200 dollars. If this momentum continues:

* It could lead to a return to the all-time high of around 4,000 dollars reached in 2021.

* A breakout above this level could open the way to new highs.

Raoul Pal validates the analysis: a strong signal for ETH investors

Raoul Pal, founder of Real Vision, relayed Brandt’s analysis, providing dual technical and institutional endorsement. This sharing is not limited to a simple comment: it implies implicit validation of a scenario many still considered unlikely. Pal, known for his macro vision, thus strengthens the idea of a favorable momentum for ethereum.

This convergence of analysts presents three implications:

* Despite skepticism towards cryptocurrencies, even the most bearish analysts are changing their stance.

* As interest in cryptocurrencies grows, even small hints at bullish scenarios are being closely followed by investors.

* In a market used to rapid shifts, any sign of a reversal or continuation is crucial for making informed investment decisions.

Peter Brandt’s reversal is not trivial. It restores to ethereum a dynamic absent for several quarters. If the identified technical resistance breaks, the second asset of the crypto market could initiate an explosive cycle and reach 15,000 dollars this May. In a context where even its fiercest critics are revising their forecasts, buyers now have a strong argument to aim for new highs.