Tomiwavoldo Olajide
Veteran trader Peter Brandt sparks speculation with SOL-ETH prediction
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Peter Brandt, a well-known figure in the trading community with decades of experience, recently predicted that the price of Solana could surpass Ethereum, sparking intrigue and speculation within the crypto community.
In a recent tweet, veteran trader Brandt predicted that Solana (SOL) could double in value versus Ethereum (ETH) if it breaks through a significant resistance level. This prediction comes amid continued market volatility, as evidenced by falling prices.
blunt We have identified the major resistance points on the SOL/ETH chart. In his words, he states that the SOL/ETH chart is a major resistance.
Brandt's resistance level is a technical barrier where sell orders are concentrated. If buyers can successfully absorb this selling pressure, the price of SOL relative to ETH could rise significantly, potentially doubling the value of SOL relative to ETH.
Brandt added that while he may appear to be bearish on Ethereum, his views are not as bearish as one might think.
Brandt expressed his skepticism towards ETH in a tweet on April 4th, calling it a “junk coin.” Although he appeared to have changed his position, Brandt said in another tweet that he would not hesitate to take a leveraged long position in ETH if the charts indicated otherwise. .
At the time of writing, the SOL/ETH indicator was slightly lower at 0.0524. Solana rose 0.56% to $174 in the past 24 hours, while Ethereum rose 1.83% to $3,319.
Solana addresses network congestion
AnzaThe Solana-focused development shop that builds the Solana client Agave has released an update on its progress in addressing current congestion on the Solana network. A fix will be released next week.
Anza is working with other core contributors to analyze the root causes of network congestion on Solana and evaluate some potential changes.
The core issue is related to the implementation of QUIC and the behavior of the Agave validator client on Solana when asked to handle a large number of requests. In this light, the Anza team plans to test a patch that addresses current network congestion, and if successful, the patch could be rolled out more widely.
We expect to see more improvements and changes rolled out in the coming months to improve network performance.
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Tomiwavoldo Olajide
