$MAGIC

Old-school commodity trader Peter L. Brandt, who has been in the business since the mid-1970s, has stirred the crypto community with his recent tweet, where he predicts Ethereum to nosedive to a 2022 low of $800.

ETH to revisit $800, Peter Brandt predicts

Brandt shared a chart, which clearly demonstrates the way he expects Ethereum price trajectory to go from the current trading point. The chart shows a descending triangle pattern which usually predicts further and deeper price declines.

#BTCRebound #SaylorBTCPurchase #BNBChainMeme #TRXETF

Over the past year, the second largest cryptocurrency has already displayed a massive 46% decline. Since Wednesday, when ETH crashed by 4%, following Bitcoin down after the Fed Reserve’s announcement about maintaining the current interest rates, it has recovered by 3.56% and is changing hands at $1,601. When Brandt published his chart, ETH traded at $1,587 per coin.

ETHUSD pic.twitter.com/pi73odO96z

— Peter Brandt (@PeterLBrandt) April 18, 2025

#BinanceAlphaAlert Earlier this week, Peter Brandt slammed Ethereum as “worthless junk.”