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Trader and analyst Peter Brandt, popular in the crypto community, gave a forecast for Ethereum in anticipation of the launch of spot Ethereum ETF trading in the United States. In his opinion, cryptocurrency is on the verge of growth.

Previously, the legendary trader, who managed to correctly predict the crypto winter of 2018 and many other market movements, repeatedly criticized ETH.

Peter Brandt believes that the next target for Ethereum will be levels above $5,600. In his opinion, the cryptocurrency has found support near the lower edge of the rectangle, which took more than four months to form. Technical analysis of the cryptocurrency chart, in his opinion, indicates the potential for significant growth in ETH in the near future.

Peter Brandt's positive forecast for Ethereum, based on technical analysis and the upcoming spot Ethereum ETF trading in the US, suggests potential growth. His track record in predicting market movements adds credibility to his views. Traders and investors are likely to monitor ETH closely as it aims for levels above $5,600.