Peter Brandt Forecasts Ethereum Price Rally as Support Zone Holds

Veteran trader Peter Brandt has forecasted that the Ethereum price may be forming a local bottom as price action stabilizes near a long-watched support area, raising the prospect of a fresh recovery move in the near term. His view comes as ETH trades around the $2,100 to $2,300 range after a sharp decline earlier this year, with traders watching whether the asset can turn recent gains into a confirmed breakout.

Brandt’s assessment focused on Ethereum’s daily chart, where he noted signs of a small rounding bottom taking shape near an area that has attracted buying interest in the past. After falling from around $3,000 and briefly finding support near the $1,750 to $1,800 zone, ETH began to post a gradual sequence of higher lows. That pattern has drawn attention from market participants looking for signs that selling pressure is easing.

ETH/USD 1-day price chart | Source: X

At the time of his analysis, Ethereum was testing a rising short-term resistance line near the $2,250 to $2,300 area. Brandt said that the zone now serves as the first breakout level to monitor. A move above it could open the way toward $2,400 and then $2,600, while failure to hold momentum may leave ETH vulnerable to renewed weakness toward $2,050, $1,900, and $1,750.

ETH Price Daily Chart Points to Key Breakout Test

The broader context remains centered on whether Ethereum can confirm that the recent rebound is more than a short-term recovery. Brandt noted that the daily chart reflects a market still seeking confirmation rather than a fully established trend reversal. The current setup suggests stabilization, but resistance remains close enough to the cap price if buyers do not maintain control.

Additional market commentary has reinforced the importance of the near-term trading range. Crypto analyst Marcus Corvinus has described the $2,150 area as a decision point on the four-hour chart, where a tightening price structure could lead to a sharp move in either direction. According to that view, a break above resistance could push ETH toward $2,200 and $2,250, while rejection may trigger a decline toward demand near $1,930.

ETH/USD 1-day price chart | Source: X

Amid the recovery, Ethereum futures market activity has also increased during the recent rebound. Data cited from CoinGlass showed ETH futures open interest rising 19.15% to $33.37 billion, while total futures open interest across the crypto market climbed 9.43% to $113.78 billion over 24 hours.

ETH/USD Monthly Structure Keeps Long-Term Range in Focus

On the monthly chart, Brandt said Ethereum remains inside a broad multi-year consolidation structure. The chart shows a pattern of higher lows supported by a rising trendline, while the price continues to trade below overhead resistance in the $4,000 to $4,800 region. 

ETH/USD 1-day price chart | Source: X

That structure suggests the ETH price is still moving within a long-term basing phase rather than a completed macro breakout.

Concurrently, recent corporate buying has added another point of interest for traders following Ethereum. According to a press release, ETH treasury firm BitMine has acquired 60,999 ETH in the past week, bringing its total Ethereum treasury holdings to about 4.6 million tokens valued at roughly $10 billion while keeping $1.2 billion in cash.