Subscribe to our Telegram channel!
Cryptocurrency analyst and trader Peter Brandt has noticed a high level of resistance on the SOL/ETH chart, which, in his opinion, predicts a turning point for the price of Solana SOL $109.04 Solana 8.26% Market capitalization $63.69 billion VOL. 24 hours $0.55 billion .
Brandt suggests that if SOL manages to overcome this resistance level, the value of the coin could double compared to the second largest cryptocurrency by capitalization ETH $2,520.75 Ethereum 1.32% Market capitalization $304.21 billion VOL. 24 hours $0.84 billion : «There's a direct prospect of Solana doubling in value relative to ether.»
The trader believes that ethereum is not capable of being a means of saving and has operational problems, especially with regard to second-tier solutions, and the network has high fees (gas fees — ed.).
Solana, known for its high throughput and low fees, is gaining more and more attention as an alternative to ETH’s scalability issues, the trader said. Earlier, Peter Brandt called bitcoin BTC $80,764.53 Bitcoin 2.68% Market capitalization $1.62 trillion VOL. 24 hours $1.3 billion a new standard for the preservation of values, which can replace paper currencies and government bonds.
Earlier, Brandt noted that the past wave of the bitcoin bull market would provoke a peak of the asset at $ 200,000, which is a significant revision of the crypto expert’s views compared to the initial estimate of BTC’s growth to $ 120,000.
«Since the price has risen above the upper boundary of the 15-month channel, the target for the current bull market cycle, which is due to end in August-September 2025, is raised from $ 120,000 to $ 200,000,» the crypto analyst said.