Legendary trader Peter Brandt (피터 브랜트) presented $8,600 as a long-term target price for Ethereum. The projection is a conditional scenario that holds only if Ethereum first breaks above $5,000.

On Sept. 27 (local time), blockchain media outlet CryptoPolitan reported that Brandt laid out the price path based on a long-term chart derived from Chicago Mercantile Exchange (CME) Ethereum futures.

The upper target line on the published chart is $8,674.50. Brandt rounded it to $8,600. He argued, "If Ethereum reaches $5,000, it implies it can eventually go to $8,600."

The gap between the current price range and the target is large. Ethereum is trading around $2,693. It would need to rise about 86 percent to reach $5,000 and about 219 percent to reach $8,600.

In the near term, $3,000 was presented as the first resistance level. Ethereum has been rising steadily from about $2,360 in early September.

The market also highlighted that the chart should be seen as a simple outlook, not as a basis for trading. Brandt said posting a forecast or a chart alone does not mean an actual trade was made, and that proof is needed to back any claim of a trade. He added that an X post alone cannot prove a trade took place.

On the same day, he also released a long-term chart for XRP. The chart presented a path toward $5.40 for XRP, and he made clear that presenting a chart should be distinguished from judging whether an actual trade was made.

Brandt has traded commodity markets since 1976 and founded Factor Trading in 1980. Because of this background, his long-term chart analysis continues to draw attention in the cryptocurrency market. He said the key to this Ethereum outlook also lies less in the target price itself than in whether it breaks above $5,000.

Fund flows are also emerging as a variable for the Ethereum market. Ethereum spot exchange-traded funds (ETFs) recorded their biggest daily inflow since Oct. 7, 2025, on Sept. 21. The amount was about $270 million. Separate from price forecasts, the next focus is whether institutional inflows continue and whether Ethereum can break through the $3,000 and $5,000 levels in turn.

This is my long-term chart of ethereum:native It implies an eventual move to 8,600 once 5,000 is handled A claim of a "call" or simple presentation of a chart is NOT a trade People who claim "trades" need to provide proof or else the claims are BS An X post is NOT proof pic.twitter.com/I2OFkn0Ne6