Peter Brandt Calls Ethereum “Worthless Trash”! Will Ethereum Price Crash Below $1,500 Again?

Ethereum, one of the world’s largest cryptocurrencies, faces serious flak from crypto veteran Peter Brandt. In his latest brutal criticism, Brandt has called Ethereum “worthless trash”. Brandt, a crypto celeb with over 50 years of experience, dropped this fiery comment on X. This comment has sparked debate over the actual value of Ethereum and has rattled investor confidence.  “Ethereum is worthless trash,” he declared as he verbalized his long-standing concerns about the complex Ethereum ecosystem and its utility. 

Peter Brandt’s Critique: Complexity, Fees, and Broken Promises

Brandt’s condemnation isn’t new, but its timing is critical. In November 2024, he labeled Ethereum a “completely broken utility token,” citing “world-class terrible” complexity and high transaction fees. His latest remarks come as the Ethereum price stagnates near October 2023 levels, despite broader crypto market moves and ongoing frustration over network congestion and gas fees.

He also pointed out Ethereum’s ambiguous role. He stated that the coin was stuck between being a smart contract platform, a decentralized hub, and a competitor to other L1 ecosystems. He claimed that this lack of clear vision, combined with the number of unfulfilled promises by the Ethereum leadership, has eroded trust among the investors. Brandt’s scathing criticism comes when the Ethereum price has stagnated, returning to its October 2023 levels. This has led to frustration within the community. The slow pace of technological upgrades since the “Merge” update has also been a cause of concern.

Make-or-Break Moment for the Ethereum Ecosystem

Brandt’s criticism sheds light on a broader concern within the Ethereum ecosystem. As of now, Ethereum’s scalability is unbalanced, and so is its decentralized nature. While the May 7 Pectra upgrade aims to improve efficiency, community concern persists. For many, Brandt’s words highlight the urgent need for Ethereum to give the community a long-term vision. As of today, Ethereum stands at a critical point in its journey. The coin must deliver on its promises or risk losing investor confidence. As the debate over Ethereum’s true value rages on, the coin’s next moves will be crucial. Whether or not Ethereum can overcome this rocky period remains to be seen. 

Ethereum Price Analysis: ETH Stuck in the 1600s

Ethereum started trading at $1,597. The start to the day was positive for Ethereum, as it climbed to $1,622 in the first half an hour. As the RSI indicated overbought conditions, Ethereum stabilized. At 2:00 UTC, it spiked up again, going to $1,650 this time. The market was again overbought, and a trend reversal was called in. A death cross on the MACD corroborated the reversal as Ethereum eventually fell to the $1,610 support level around 6:00 UTC. Ethereum started ascending again, but its initial attempt failed to go past $1,645. However, with a slight correction, Ethereum was able to fly past the resistance to $1,688.

Chart 1: published on TradingView, April 15, 2025

Ethereum was massively overbought at this point, and a significant death cross formed on the MACD. Ethereum soon descended. As the EMAs converged and diverged quickly, Ethereum spiked up, consequently facing a steep correction, dropping down to $1,622. At 16:35 UTC, Ethereum attempted another uptrend, but faced resistance close by at $1,650. Failure to break the resistance led Ethereum to drop to the $1,616 support. Since then, Ethereum has been showcasing horizontal range-bound behavior.

Ethereum Price Prediction: Will Ethereum Move Towards $1,700?

Ethereum is currently testing the $1,650 resistance. It is worth noting that the RSI is already tipping to the overbought side. This means that the buying pressure is not strong enough for a resistance break as of now. It is highly probable that Ethereum will return to the support level before testing the resistance again. If Ethereum is able to avoid going all the way down to the support, it can very well form a significant uptrend to take it above $1,650. 

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