Brandt Sees ETH at $8,600 as Long-Term Target

Ethereum's price is expected to surge in the long term according to Peter Brandt's analysis. His chart of CME Ether futures points to a target around $8,674.50, with the technical setup becoming relevant only after Ethereum clears roughly $5,000.

Currently trading near $2,690, reaching $5,000 would require an increase of approximately 86%. A move from current levels to $8,600 would be more than a three-fold gain.

However, Brandt's call for a price target of $8,600 should be treated as a long-term conditional target, not Ethereum's next destination. The immediate setup is less dramatic and involves overcoming resistance at the $2,775, $2,825 area before reaching $3,000, $3,050.

Institutional demand remains strong with U.S. spot Ethereum ETFs recording about $576 million of net inflows across four sessions from September 21 through September 24.