Ethereum Price Prediction: Analyst Sees ETH at $8,600

Brandt’s Sept. 21 chart of CME Ether futures points to an eventual target around $8,600, with the technical setup becoming relevant only after Ethereum clears roughly $5,000.

His chart actually marks the higher level near $8,674.50, while Brandt summarized the scenario as a potential move toward $8,600 once $5,000 is broken.

At Ethereum’s current price around $2,688, reaching $5,000 would already require an increase of roughly 86%. A move from current levels to $8,600 would represent more than a 3x gain.

$3,000 Comes Long Before $8,600

The immediate setup is far less dramatic.

Ethereum has repeatedly struggled around the $2,775–$2,825 resistance area after breaking above roughly $2,661 earlier this month. A sustained move through that zone would put $3,000–$3,050 back in focus.

Our latest Ethereum price analysis identified $2,800 as the key short-term breakout level, while an earlier ETH technical setup mapped a potential move toward $3,050 if momentum holds.

That means Brandt’s $8,600 call should be treated as a long-term conditional target, not Ethereum’s next destination.

<iframe src=”https://widgets.coincodex.com/w/bfc0f45c-9eb0-446c-bc27-d40a4f522b09?site=coinpaper&mode=light” width=”100%” height=”420” frameborder=”0” referrerpolicy=”no-referrer-when-downgrade” style=”border:0;background:transparent;border-radius:0px;”></iframe>ETF Demand Still Supports the Bullish Case

Institutional demand also remains constructive.

U.S. spot Ethereum ETFs recorded about $576 million of net inflows across four sessions from Sept. 21 through Sept. 24, even while ETH failed to hold above $2,800. Coinpaper recently highlighted that divergence in its Ethereum ETF and price analysis.

Exchange supply has also remained tight. Earlier this month, Ethereum balances on centralized exchanges fell to around 14.88 million ETH, a multi-year low, while staking continued absorbing circulating supply.