Ethereum Soars Past $2.700 Today (June 11): Experts Say a Major Breakout Could Be Imminent!

Jakarta, Pintu News – The price of Ethereum has the potential to trigger a major surge, according to veteran trader Peter Brandt.

Although Brandt didn’t state it directly, his ETH daily chart is quite telling.

Based on the trader’s Ethereum price chart and analysis, the current consolidation could be the trigger for a price rally.

Ethereum Price Up 4.00% in 24 Hours

As of June 11, 2025, Ethereum (ETH) was trading at approximately $2,783, or around IDR 45,292,832 — marking a 4.00% gain over the past 24 hours. During this timeframe, ETH dipped to a low of IDR 43,262,265 and reached a high of IDR 45,968,082.

At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $335.63 billion, with daily trading volume rising 54% to $34.25 billion within the last 24 hours.

Read also: Bitcoin Stalls at $109K Today — Is a New All-Time High Just Around the Corner?

Peter Brandt hints Ethereum price is getting closer to breakout

In a recent post, Peter Brandt signaled that the Ethereum price is ready for a breakout.

He wrote, “Every dog has its day – woof woof $ETH,” accompanied by a daily bar chart of Ethereum showing a symmetrical triangle pattern.

Based on the symmetrical triangle pattern, there is no clear indication of the breakout direction. However, considering the 50% price surge that occurred between May 8 and 13, this pattern could be interpreted as a bullish pennant-atrend continuation pattern that indicates the uptrend will continue.

This isn’t the first time Brandt has commented on Ethereum. On May 9, the veteran trader made it clear that he doesn’t hate Ethereum just because it’s rarely discussed.

He shared a chart and stated that a long-term consolidation pattern could potentially trigger a major price spike or moonshot.

“I usually deliberately don’t say anything nice about $eth. You can call that ‘hating’ – maybe you’re right. But, this consolidation pattern could favor a surge to the moon.”

In addition to Peter Brandt, large institutions such as BlackRock and whales have also started to take notice of ETH’s strength amid the recent crypto market turmoil.

ETH Price Analysis: How High Can Ethereum Go?

If the bullish pennant pattern hinted at by Peter Brandt is to actually materialize, it will require a convincing daily candlestick close above the upper trendline of the pattern.

Read also: Bitcoin Breaks $109,000, Here are 3 Cryptos that Follow BTC’s Footsteps Today June 10, 2025!

This will confirm an upside breakout, and the price target is determined by adding the length of the rally before the pennant pattern to the base of the pattern. Based on Brandt’s guidance, Ethereum’s theoretical price target is at $3,611.

Meanwhile, the latest ETH price prediction from the CoinGape website based on on-chain data shows that Ethereum has the potential to reach prices as high as $4,000.

However, traders also need to watch out for potential fakeouts or rejections at the pennant’s upper trendline. If the price fails to break out of this symmetrical triangle pattern, then a breakdown could occur.

In that scenario, a decisive daily candlestick close below $2,387 would invalidate the bullish pennant pattern. This development could trigger a 21% correction towards $1,879, which is the next key support level.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Ethereum Price Analysis: Expert Says ETH is Primed for Breakout. Accessed on June 11, 2025