Brandts 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 Ethereums 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.
Discover more
investing
Crypto trading course
Bitcoin investment guide
$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.
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.