Renowned trader Peter Brandt is of the belief that Solana (SOL) has the potential to significantly outperform its competitor Ethereum (ETH). In a recent post on the social media platform X, Brandt, followed by 723,800 users, reveals that the SOL/ETH chart is currently trading close to a crucial resistance level. He suggests that if this resistance is broken, Solana could experience a 100% increase in value compared to Ethereum. Brandt emphasizes that resistance indicates supply, and if the supply line is absorbed, SOL could potentially double its value against ETH. According to Brandt’s chart analysis, if the pair surpasses the horizontal resistance at 0.055 ETH ($188.70), it could reach a value of 0.11009 ETH ($377.72). At present, SOL/ETH is trading at 0.0521 ETH ($178.75).

Furthermore, Brandt expresses his preference for owning Solana and Bitcoin (BTC) over Ethereum, based on his technical analysis. He shares a chart indicating that Ethereum has broken a critical support level against Bitcoin (ETH/BTC). However, Brandt clarifies that as a chart-based swing trader, he would not hesitate to take a leveraged long position in ETH if the charts indicated such a move. He emphasizes that charts are charts, and his decisions are based on technical analysis. According to the chart, Brandt suggests that ETH/BTC has breached the support level of 0.05 BTC ($3,485), with the current value at 0.04931 BTC ($3,424).

It’s important to note that the opinions expressed by Brandt are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. The Daily Hodl, where this information is sourced from, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor.