Peter Brandt indicates that Ethereum may achieve a price of 3,800 USD to 4,800 USD if it can breakout from a rising wedge. As of May 7, ETH’s price has risen to 2,515 USD from 1,807 USD, marking a notable 38% gain.
Despite the positive outlook, a potential short-term pullback may occur as current trader sentiment appears bearish and the buy-sell ratio has dipped below 1, indicating caution among futures traders.
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