Ethereums price has risen almost 10% in the past seven days. It is currently trading slightly below the important $3,400 mark.

This uptick is in line with the rest of the market, which is currently experiencing considerable bullish momentum following the correction that took place last week.

Source: TradingView The price has dipped a bit in the past few hours after briefly touching $3.5K on Binance.

That said, one of the most popular prop traders with 50 years of experience, Peter Brandt, has recently commented on the ETH price, outlining the possibility of a considerable surge.

In a tweet from earlier today, Brandt shared his perspective on ETH, saying that support was found at the lower boundary of 4+ month rectangle, which was a retest of the Feb completion of a horn bottom.

Now, a a horn bottom pattern in technical analysis is referred to price action identified by two downward spikes embracing a tiny middle candle, followed by a sharp rally.

Here is Brandts chart:

Source: X The interesting bit is that he said that the target for this patterns resolution is above $5,600. If it happens, this would mean an increase of around 64% for ETH.