Peter Brandt: Ethereum Poised for Breakout Amid Congestion Pattern

In a recent post, Brandt pointed to a significant congestion pattern forming in Ethereum’s price chart that “could support a moon shot,” despite his admitted tendency to avoid positive ETH commentary.

The chart he shared illustrates Ethereum consolidating within a symmetrical triangle over the past few years, with strong support around $2,150.

A breakout from this formation could signal a major upward move. Historical patterns like flags, descending triangles, and failure swings further support the notion of growing bullish momentum.

READ MORE:

Bitcoin Could Be Leading Global Monetary Trends, Says Analyst

With ETH currently hovering near $2,840 and bullish sentiment returning across the crypto market, this technical setup could ignite a powerful rally if confirmed by a breakout above the resistance line.

The post Peter Brandt: Ethereum Poised for Breakout Amid Congestion Pattern appeared first on Coindoo.