Peter Brandt: ETH could fall to $2,276

Veteran trader Peter Brandt saw a head and shoulders pattern on the Ethereum chart.

In his Twitter, he wrote that he does not particularly trust this pattern, but in the event of a bearish outcome of events, the price of ETH could fall to $2,276. 

I am not saying this and I am not shorting ETH. But whether you like it or not, if you hold ETH, you will have to deal with it. The chart shows head and shoulders. I'm not predicting the end of the world, but if head and shoulders works, the price will drop to $2,276.

Over the past week, the price of ETH has lost more than 18%. The price of Bitcoin also sank significantly, testing the $40,150 mark. At the time of writing, BTC has recovered to $43,133.

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