Veteran trader Peter Brandt has forecast a potential bearish downturn for Ethereum (ETH) with a price target of $800, suggesting it may revisit 2022 lows. His analysis is supported by a chart highlighting a descending triangle pattern, a technical formation commonly associated with further downward price movement. Brandt’s prediction comes amidst the cryptocurrency market’s volatility and uncertainty about its long-term trajectory. Despite currently trading above $800, his forecast suggests ETH could experience a significant decline. While some traders concur with Brandt’s analysis based on technical signals, others believe Ethereum’s fundamentals such as network upgrades, user activity growth, and developer interest may mitigate such a sharp downturn. Regardless of individual perspectives, Brandt’s long-standing reputation within both traditional and crypto markets makes his predictions influential in the trading community.