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- Peter Brandt warns ETH could plunge to $800 if it breaks below the $1,500 support, citing a bearish descending triangle pattern.
- Ethereum faces pressure, down 46% year-over-year, amid Fed rate decisions and market volatility.
- Scottie Pippen and Justin Sun remain bullish, pointing to long-term potential and ecosystem support despite short-term concerns.
Veteran trader Peter Brandt has sent shockwaves through the digital asset community with a grim forecast for Ethereum (ETH). Citing a classic bearish technical pattern, Brandt suggests ETH could be on track for a steep correction, potentially revisiting its 2022 lows near the $800 mark.
Brandt shared a chart on social media depicting a descending triangle, a well-known formation in technical analysis that typically precedes a significant price breakdown. His chart highlights a critical support zone around $1,500. Should Ethereum fail to hold above this threshold, Brandt argues a sharp decline could follow.
“If $1,500 breaks convincingly, we could be looking at a free fall to $800,” he stated, referencing the triangle pattern and historical price behavior.
At the time of Brandt’s post, ETH was trading at $1,587. Despite short-term relief climbing slightly to $1,596 at press time, Ethereum remains on shaky ground, having shed more than 46% of its value over the past 12 months. The latest dip came in the wake of the Federal Reserve’s decision to hold interest rates steady, which also rattled Bitcoin and other major tokens.
Brandt’s outlook is particularly notable given his long-standing skepticism toward Ethereum. He previously referred to ETH as “worthless junk,” a stance that continues to stir debate within the community.
Ethereum Gets Boost from Scottie Pippen and Justin Sun
Despite Brandt’s bearish take, some prominent voices remain optimistic. NBA legend Scottie Pippen, now an active figure in the digital asset space, predicts the start of a major altcoin season as soon as this Sunday. His forecast aligns with patterns observed in past Bitcoin halving cycles, which often spark renewed investor interest in alternative tokens.
Pippen, who is currently building a platform focused on AI, gaming, and real-world asset tokenization, has expressed bullish sentiment on Ethereum and its evolving use cases.
Adding to the mixed sentiment, Tron founder Justin Sun has reaffirmed his commitment to Ethereum. In a recent statement, Sun said he plans to retain his Ethereum holdings and collaborate with ETH developers, signaling a willingness to support the broader ecosystem despite competing interests.
XRP Overtakes Ethereum in Fully Diluted Valuation
In a surprise twist, XRP has overtaken Ethereum in terms of Fully Diluted Valuation (FDV), the estimated value if all possible tokens were in circulation. As of mid-April 2025, XRP’s FDV stands at approximately $208.4 billion, compared to Ethereum’s $192.5 billion.
However, it’s important to note that FDV does not reflect the actual market capitalization based on tokens currently in circulation, a metric where Ethereum still leads comfortably.
Positive regulatory momentum, growing institutional adoption, and the expanding use of XRP in cross-border payments, one of the XRP Ledger’s key strengths, have largely driven XRP’s recent surge in FDV. Many decentralized applications continue to rely on Ethereum as their backbone, despite increased competition and changes to its monetary policy.
Analyst Ali Martinez weighed in with a nuanced technical view, noting on X (formerly Twitter) that Ethereum is currently caught between two pivotal price levels, $1,540 and $1,630. He suggests that a clear move outside this range could determine the asset’s next major direction.
Martinez also pointed out that ETH is now trading near the lower MVRV Price Band, a historical indicator that has often marked strong buying opportunities in past cycles.
“When ETH dips below the MVRV band, it tends to rebound sharply. Historically, that’s been the sweet spot for long-term accumulation,” he added.
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