Ethereum's native token, Ether, has been trading between $2,300 and $2,800 for the past month, but veteran trader Peter Brandt suggests this sideways trend may be ending.
Peter Brandt points out a chart pattern indicating a potential parabolic rally for Ethereum after transitioning from a descending channel to a symmetrical triangle structure.
Ether has shown a significant price increase, currently at $2,773, and Brandt believes it may be gearing up for a major rally based on the chart pattern.
Global Ether-based investment vehicles have seen strong inflows, with over $295 million added last week, indicating growing investor confidence and optimism in Ethereum's market potential.