Solana, according to a widely-followed trader (SOLIt is expected to outperform Ethereum in the near future.ETH).
Peter Brandt, a seasoned trader on social media platform X, tells 723,800 of his followers that the SOL/ETH graph is trading close to a major resistance level.
Brandt believes that Solana can gain 100% against Ethereum should the pair be able to smash the resistance level.
“The SOL/ETH Chart is facing huge resistance.” “Resistance = Supply.”
SOL could potentially double in value when compared to ETH.” ETH.”
The trader predicts that SOL/ETH would reach a price of 0.11009 ETH (377.72 USD) if it breaks through the horizontal resistance level at 0.055 ETH (188.70).
SOL/ETH currently trades for $0.178.75 (0.0521 ETH).
Brandt says He prefers to own Solana (a cryptocurrency) and Bitcoin.BTC(based on his analysis of technical data) has a slight edge over Ethereum. The trader shared a chart suggesting that Ethereum had broken through a key support level against Bitcoin.
“As a post note, I am a chart-based swing trader. I would not hesitate taking a leveraged long position in ETH if the charts so indicated. A chart is a chart is a chart.”
Brandt suggests, based on this chart that ETH/BTC is now above the level of support of 0.05 BTC (or $3485). ETH/BTC was worth 0.04931 BTC at the time of this writing.
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Source: dailyhodl.com
