Ethereum Chart Pattern Supports Imminent Moonshot Rally To New Highs — Seasoned Trader Peter Brandt

Ethereum’s native token, Ether, has hovered between $2,300 and $2,800 for the past 30 days, but this sideways phase could be coming to an end, according to veteran chart expert Peter Brandt. Moreover, an uptick in exchange-traded fund inflows reflects strong trader confidence and sustained bullish momentum in the current market. “Every Dog Has Its Day” In a recent X post , Peter Brandt pointed out a market structure that could pave the way for a parabolic Ethereum rally. In an accompanying chart, Brandt noted how Ether has moved from a descending channel to a symmetrical triangle structure. Based on his analysis, Ether has been trading within a descending channel since December 2024, when its price soared above the $4,000 milestone. During this time, price action was confined within the channel’s boundaries, with resistance at the upper end and support at the lower end. It’s worth noting that Ethereum’s price tested key levels, including $3,700 in January and $1,390 in April. But after breaking out of this channel in mid-April, Ethereum’s price started forming the symmetrical triangle pattern, which has historically indicated consolidation before a strong upsurge. Ether’s price was trading at $2,773 on June 10, up more than 9% over the last 24 hours. According to Brandt, the asset might be setting up for an even bigger rally, commenting , “Every dog has its day — woof woof ETH.” His analysis marks a notable shift in Brandt’s outlook from earlier this year , aligning with the renewed optimism for Ethereum. Robust ETH Inflows Notably, global Ether-based investment vehicles continued their winning streak last week, with net inflows of over $295 million, according to data provided by CoinShares. The products have now recorded a seventh straight week of inflows, totaling $1.5 billion. “This represents the strongest run of inflows since the US election last November and marks a significant recovery in sentiment among investors,” CoinShares head of research James Butterfill said in a recent blog. Meanwhile, U.S.-listed spot Ether exchange-traded funds (ETFs) have posted their longest positive streak yet, drawing in a staggering $837.5 million since May 16, per Farside Investors data . This reflects institutional conviction in the altcoin, despite its price being 43% below its all-time high. If the positive trend continues in the next week, net inflows since the products debuted last year could cross $1 billion, a key psychological and market milestone for Ethereum bulls.

Source: ZyCrypto