Veteran dealer Peter Brandt has flagged a possible backside for Ethereum whereas hinting at a rally to $4,000 for the second-largest crypto by market cap. This got here as ETH rose to a one-month excessive of $2,300, with market fears over the Iran warfare abating.
Brandt Alerts That Ethereum May Rally To $4,000
In an X submit, the veteran dealer mentioned {that a} small every day chart backside was forming in an space of long-term historic help. His accompanying charts hinted at a bullish reversal for the altcoin with a possible rally to as excessive as $4,000.
Brandt’s remarks come amid the crypto market rebound at present, with Bitcoin reclaiming $74,000, with the veteran dealer additionally suggesting that the main crypto might maintain this rally and probably attain $83,000. On its half, Ethereum has surged to a one-month excessive of $2,300.
ETH has surged by over 17% within the final week, at the same time as tensions between the U.S. and Iran proceed to escalate. This newest rally for ETH and the broader crypto market comes on the again of optimism that the U.S. will discover a technique to reopen the Strait of Hormuz, whose closure has pushed oil costs to new highs.
In the meantime, crypto analyst Ted Pillows additionally predicted that Ethereum might attain new highs on this newest rally. He famous that there’s not a lot resistance for Ethereum till the $2,400 zone. “IMO, ETH might faucet the $2,400 zone, as I’ve been saying for days, earlier than a reversal to new lows,” he added.
$ETH has reclaimed the $2,150 degree.
Now, there’s not a lot resistance for Ethereum till the $2,400 zone.
IMO, ETH might faucet the $2,400 zone, as I’ve been saying for days, earlier than a reversal to new lows. pic.twitter.com/OjFMi6AZPX
— Ted (@TedPillows) March 16, 2026
Whales Are Accumulating ETH
On-chain analytics platform Lookonchain revealed that whales are accumulating ETH, signaling renewed demand for the altcoin. One in every of these whales is Erik Voorhees, an early Bitcoin supporter and founding father of ShapeShift, who has already spent 49 million USDT to purchase 23,393 ETH at a median value of $2,098.
Erik Voorhees(@ErikVoorhees), an early #Bitcoin supporter and founding father of ShapeShift, is shopping for ETH like loopy after a one-year break!
He spent 49.08M $USDT to purchase 23,393 $ETH at $2,098 via 2 wallets.
He nonetheless holds 35.25M $USDT and should purchase extra $ETH.… pic.twitter.com/18ifLc8Ghe
— Lookonchain (@lookonchain) March 16, 2026
Early Ethereum builder Billy can be shopping for Ethereum, spending $17.46 million at a median value of $2,248 per ETH. Institutional buyers, together with Tom Lee’s Bitmine, additionally proceed to purchase ETH. As CoinGape reported, Bitmine acquired 60,999 ETH final week, bringing its complete holdings to 4.6 million ETH.
Commenting on the latest buy, Tom Lee famous that ETH has outperformed the S&P 500 because the begin of the Iran warfare. “In our view, greater oil is triggering considerations of slowing progress for the worldwide economic system. And when buyers fear about progress, they purchase ‘progress shares’ together with MAG7, software program, and crypto. Because the chart under exhibits, crypto strikes in tandem with software program shares,” he additional remarked.
