The Ethereum will rise to $ 309. Forecast of the legendary trader Peter Brandt

If you are not familiar with the contribution of Peter Brandt in the community of traders around the world, we strongly recommend to subscribe to his Twitter account. Recall that Brandt was one of the first who predicted the rapid decline of Bitcoin to the bottom with amazing accuracy. Behind Peter a few decades trading on traditional markets, so its predictions can be trusted.

He recently published a new review of the pair of ETH/USD with a rather optimistic prediction. According to Brandt, the second capitalization of the bitcoin may rise to 309 dollars in the near future.

Open longs

On the chart Ethereum analyst noticed the formation of a bullish pattern. According to the encyclopedia of StockCharts, it coincides with the wording.

Ascending triangle is a bullish formation that usually appears on the uptrend and indicates a continued growth. There are several examples when ascending triangles were formed on the downtrend, but usually they indicate the continuation of a previously planned movement of an asset. In any case, such a pattern indicates accumulation.

The trader does not exclude the possibility of a pullback. In this case, the other market players need to monitor the line 151 of the dollar. Falling below this range will be a great signal for opening short positions.

But for long the ultimate goal to fix the profit should be the area of $ 300. To be more precise, Ethereum needs to jump at least to $ 309. Unfortunately, Brandt did not have any time frame for his prediction.

Recall that in the case of Ethereum, the analyst has already shared a prediction. In August 2018, he said that the cryptocurrency can be lowered to 124 dollars. A few months later, the air fell even below hundred.

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