Summary
- Veteran trader Peter Brandt warned that Ethereum could fall to $800.
- Brandt stated that Ethereum is in a bearish trend and there is room for further decline at the current level.
- He evaluated Ethereum as "worthless junk" and mentioned that strong downward pressure could continue.
Veteran trader Peter Brandt has warned that Ethereum (ETH) could fall to the $800 level in the future. This is a forecast that it could retest the lows recorded in 2022.
According to the cryptocurrency specialist media U.Today on the 19th, Brandt stated on X (formerly Twitter) that "Ethereum is currently in a bearish trend and has the potential to fall to around $800 based on technical analysis."
Brandt added, "ETH has already fallen about 46% in a year and there is still room for further decline at the current level."
Earlier this week, he evaluated Ethereum as "worthless junk" and mentioned that strong downward pressure could continue.
Meanwhile, Brandt is a veteran trader who has been active in the commodities market since the 1970s and has presented various technical analyses on major trends of Bitcoin and Ethereum in the past.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
