- Brandt predicted that Solana could double against Ethereum.
- Solana has shown significant growth despite recent network issues.
Solana [SOL]a cryptocurrency that was previously aiming for $200, but encountered a setback amid bearish sentiment on the weekly chart.
However, the 24-hour price cycle showed an increase of 3.56%, reflecting optimism in the border market. In other words, a famous cryptocurrency trader peter brandtsaid in a recent X (formerly Twitter) post:
“The $SOLETH chart is at a major resistance line. Resistance = Supply. If this supply line is absorbed, $SOL is likely to double in value versus $ETH.”
Ethereum vs Solana
This isn't Brandt's first time. criticized Ethereum, highlights the ongoing debate in the field of cryptocurrencies regarding the position and potential of cryptocurrencies. On April 5th, Blunt tweeted:
“I hate to say it, but despite its mindless dedication to Ethereal Diot, $ETH is a junk coin. As a store of value, it's junk, pretending to be $BTC. ”
Despite the criticism, Brandt expressed a willingness to take advantage of Ethereum's benefits. [ETH] Market fluctuations.
Amid these setbacks, Solana's recent network congestion and transaction failures have also sparked debate within the cryptocurrency community.
address concerns, matt sorgSolana's Head of Technology and Products said:
“Solana is a very efficient protocol that barely hits its scaling limits. This particular issue does not affect the transaction processing portion of the protocol, nor is it a transaction failure issue.”
What's going on in terms of price?
Surrounded by various economic downturns, Solana experienced a 2.2% drop last week, but has shown significant growth, gaining 34.15% in the past 30 days and an impressive 752.41% increase over last year.
Analysts interpret this recent short-term decline as a temporary setback in Solana's overall upward trend.
Therefore, for Bitcoin [BTC] With a halving expected later this month, experts see the current market downturn as a potential opportunity for investors to enter the market before an expected recovery.
