Trader Peter Brandt Predicts Solana Could Double Its Value Compared to Ethereum: Insightful Forecast Revealed
Renowned trader Peter Brandt, with a substantial social media following, predicts a significant potential for Solana (SOL) to outshine Ethereum (ETH) in terms of performance.
Brandt highlights that the SOL/ETH chart is currently near a crucial resistance level, suggesting a possible 100% increase in SOL’s value if it breaks through this resistance. He notes that this resistance represents a supply barrier, indicating the potential for SOL to double against ETH. According to Brandt’s chart analysis, SOL/ETH could reach 0.11009 ETH ($377.72) if it surpasses the horizontal resistance at 0.055 ETH ($188.70). Presently, SOL/ETH is trading at 0.0521 ETH ($178.75). Brandt also expresses a preference for holding Solana and Bitcoin (BTC) over Ethereum, citing technical analysis that suggests Ethereum has breached a critical support level against Bitcoin (ETH/BTC).
Although Brandt primarily relies on chart-based trading strategies, he mentions being open to a leveraged long position in ETH if supported by the charts. The chart indicates that ETH/BTC has indeed fallen below the 0.05 BTC ($3,485) support level, with the current ETH/BTC value at 0.04931 BTC ($3,424).
Clever Robot News Desk 10th April 2024
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