Peter Brandt, a renowned trader, has expressed a bearish outlook on Ethereum's price, predicting a potential 38% collapse. He points to the inability of Ethereum to break out of its current price range and sees the resistance at $2,800 per ETH as a driver for his bearish sentiment. Brandt believes the next benchmark for Ethereum could be $1,551, representing a significant drop. While the weakness in Ethereum's price is against the backdrop of strong performances from Bitcoin and Solana, the question remains whether such a drop would impact the entire market, given the interconnection of crypto assets.



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