Quick Summary:
- Veteran trader Peter Brandt predicts Ethereum (ETH) could crash to $800, revisiting 2022 lows.
- He cites a descending triangle pattern as a bearish technical signal.
- Ethereum is down 46% over the past year, currently trading around $1,600.
- Meanwhile, Scottie Pippen and Justin Sun remain bullish, backing long-term growth.
- Pippen is building a project on Ethereum focused on AI, gaming, and RWA tokenization.
- Sun plans to strengthen collaboration between Tron and Ethereum.
Ethereum Headed for $800? Brandt’s Bold Prediction
Peter L. Brandt, a legendary commodities trader active since the 1970s, has predicted Ethereum could fall to $800, revisiting lows from the 2022 crash.
Brandt posted a chart showing a descending triangle pattern, a technical setup known for predicting bearish breakdowns. If his prediction holds, Ethereum could see a steep drop from current levels.
Over the past year, Ethereum has already shed 46% of its value. After the recent Federal Reserve announcement to hold interest rates, ETH briefly dipped by 4% before bouncing back to $1,601.
When Brandt posted his chart, Ethereum was trading at $1,587.
Brandt: ETH Is “Worthless Junk”
Earlier this week, Brandt didn’t hold back—calling Ethereum “worthless junk” in a separate tweet.
His comments ignited strong reactions in the crypto community, with traders split between fear and defiance.
Bulls Still Back ETH: Pippen & Sun Stay Optimistic
While Brandt warns of a potential crash, others are doubling down on Ethereum’s long-term value.
Scottie Pippen, NBA legend and now a crypto advocate, sees a coming altcoin season fueled by Bitcoin’s halving. Historically, altcoin rallies follow around 340 days after each halving.
The last halving occurred in April 2024, placing the current market in the right window for a breakout. Pippen is building a new project on Ethereum focused on AI, gaming, and tokenization of real-world assets (RWA).
Justin Sun, founder of Tron and head of exchanges like Poloniex and Huobi, has also expressed continued support for Ethereum. Despite poor short-term performance, Tron is not selling its ETH holdings.
Instead, Sun emphasized the need for greater collaboration between Ethereum and Tron developers, suggesting that cooperation, not competition, will drive the crypto ecosystem forward.
What’s Next for ETH?
The crypto community remains divided:
Will Brandt’s $800 ETH prediction come true?
Or will the faith shown by builders like Pippen and Sun lead Ethereum into a new golden era?
Only time—and the markets—will tell.