Seasoned trader Peter Brandt, who has in the past had a critical view of Ethereum, recently spotted a bullish chart formation that indicates ETH will make a large move upward. This development represents a major change in opinion for Brandt since he has previously admitted that Ethereum may see a massive price jump.
Symmetrical Triangle Suggests Upside Momentum
Brandt’s attention is on a symmetrical triangle pattern that has been developing on Ethereum’s monthly chart since 2021. A pattern with decreasing trendlines of lower highs and increasing lows tends to be a precursor to a breakout. Brandt says that if Ethereum breaks through the resistance level of around $2,850 to $2,900, then it may head towards price levels of $5,600 to $6,000.
Underpinning this bullish prognosis, Ethereum recently climbed back up from support areas near $1,728 and $2,150, finishing in May 2025 at $2,314.46, a $520.49 increase for the month. Such action is typical for a symmetrical triangle breakout pattern, and its implication is sustained higher price pressure.
Institutional Interest and Whale Activity
Institutional advancements are also pointing in the direction of the positive sentiment for Ethereum. BlackRock’s submission of an Ethereum ETF with staking features and Brazil’s intentions to offer ETH futures have strengthened investor confidence.
On-chain data indicate that accumulation wallets are seeing vast inflows, the biggest single-period inflow since 2017. The trend suggests robust demand from institutional investors, further pointing towards the bullish position of Ethereum.
That being said, some of the earlier investors in Ethereum are taking advantage of the recent price appreciation. One wallet associated with the Ethereum ICO has sold thousands of ETH in the past few weeks, most recently selling 1,900 ETH for $4.44 million. Even with all of this selling pressure, the overall sentiment of the market remains bullish.
Technical Indicators and Market Outlook
Technical indicators are supporting the bullish story. The alignment of the 8-period and 18-period moving averages indicates a possible bullish crossover, and the Average Directional Index (ADX) shows increasing trend momentum.
Ethereum’s price, even after recent increases, remains around 47% lower than its all-time price of $4,891 in November 2021. This gap is an opportunity for further increase if the present bullish trends continue.
In short, Peter Brandt’s recognition of a symmetrical triangle pattern, coupled with institutional demand and favorable technical signals, indicates that Ethereum could be on the verge of a notable price increase in the near term.
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