Ethereum Spot In Danger As Veteran Trader Sees Solana Surpassing Ethereum 

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Prominent crypto trader Peter Brandt shared insights on the SOL/ETH chart, suggesting a significant resistance level. According to Brandt, this resistance signifies a substantial supply of assets. However, he hints at a potential bullish scenario for SOL if this resistance is overcome, indicating a possible doubling in value compared to $ETH.

Solana To Surpass Ethereum 

In a recent tweet, Peter Brandt discussed the importance of using technical analysis to understand cryptocurrency trading, particularly highlighting the significance of resistance levels in predicting potential price movements. 

Meanwhile, he pointed to the SOL/ETH chart as an intriguing example, suggesting that if Solana manages to surpass a key resistance line, its value could see a significant increase compared to Ethereum.

While Ethereum faces challenges such as high gas fees and issues with new solutions like Layer 2, some investors are considering switching to Solana. Mainly due to Solana’s high performance and low fees, has garnered increasing attention as a viable alternative to ETH’s scalability issues.

Brandt also injected some humor into his analysis by joking about spreading “FUD” (Fear, Uncertainty, and Doubt) about Ethereum. Despite the humorous tone, Brandt clarified that his sentiment towards Ethereum is not as negative as his jokes might imply, indicating a balanced perspective on the cryptocurrency.

Ethereum A “Junk Coin”

This isn’t the first time Brandt has expressed skepticism towards Ethereum. He previously labeled Ethereum as a “junk coin,” citing alleged shortcomings as a store of value and criticizing its functionality, including difficulties with layer-2 solutions and high gas fees. 

Despite his criticism, Brandt’s broader conviction remains that Bitcoin reigns supreme in the cryptocurrency market.

Solana Price Analysis 

In the past 24 hours, the price of Solana has risen by 3.38% to reach $175.58, accompanied by a significant increase in trading volume, which surged by 94.40% to $8.54 billion. 

In contrast, Ethereum experienced a slightly higher price increase of 1.87%, reaching $3,333.40. However, Ethereum’s trading volume for the day saw a decline of nearly 11% to $13.39 billion.