Renowned trader Peter Brandt believes that Solana (SOL) has the potential to outperform Ethereum (ETH) by a significant margin. Brandt, with a substantial following of 723,800 on the social media platform X, points out that the SOL/ETH chart is currently trading near a crucial resistance level. If this resistance level is broken, Brandt predicts that Solana could experience a 100% increase in value compared to Ethereum.

Brandt emphasizes that the SOL/ETH chart is facing significant resistance, which represents the available supply. However, if this supply is absorbed, there is a strong possibility of Solana doubling in value against Ethereum. According to Brandt’s chart, it is projected that SOL/ETH could reach a value of 0.11009 ETH ($377.72) if it surpasses the horizontal resistance at 0.055 ETH ($188.70). Currently, SOL/ETH is trading at 0.0521 ETH ($178.75).

In addition, Brandt states that, based on his technical analysis, he prefers holding Solana and Bitcoin (BTC) over Ethereum. He shares a chart illustrating that Ethereum has broken a critical support level against Bitcoin (ETH/BTC). Brandt clarifies that as a chart-based swing trader, he would not hesitate to take a leveraged long position in Ethereum if the charts indicate it. He emphasizes the importance of charts in his trading decisions.

Looking at Brandt’s chart, it suggests that ETH/BTC has breached the support level of 0.05 BTC ($3,485). As of now, ETH/BTC is valued 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 the information is sourced, does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor.