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Solana Eyes Ethereum Overtake: Predicts 100% Surge in 4 Weeks – Analysis Unveils Potential Drivers

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  • Brandt prefers Solana and Bitcoin over Ethereum, citing Ethereum’s drop below key support level against Bitcoin.
  • Brandt emphasizes chart-based trading decisions, open to leveraged ETH positions if chart indicators suggest favorable movements.

Peter Brandt, an experienced trader, recently analyzed that Solana (SOL) has the potential to increase its value relative to Ethereum (ETH). Brandt noted that the trading pair SOL/ETH is approaching a resistance level. He posited that if this resistance is broken, Solana could see its value relative to Ethereum double.

Beyond Solana, Brandt expressed a preference for Solana over Ethereum. He indicated that Ethereum has dropped below a key support level against Bitcoin, as observed in the ETH/BTC trading pair.

He clarified his approach to trading, emphasizing reliance on chart analysis. “Should the charts indicate, I would not hesitate to take a leveraged long position in ETH. A chart is a chart is a chart” he stated, underscoring his methodical, chart-based strategy for trading decisions.

This analysis suggests that ETH/BTC has fallen below the support level of 0.05 BTC ($3,485), with its current price at 0.04931 BTC ($3,424). Brandt’s observations offer insights into potential market movements between these leading digital currencies, highlighting the importance of technical analysis in predicting price changes.

The current price of Solana (SOL-USD) is approximately $171.89, following a decrease of $8.45.

Solana’s Lead in Stablecoin Transactions

Solana has recently been highlighted by AllianceBernstein analysts as surpassing Ethereum in the domain of stablecoin payments. This development positions Solana at the forefront for cross-border payments utilizing stablecoins.

According to a recent report, Solana has achieved a good market share, reaching 43%, in the transfer value of stablecoins, surpassing the previously leading Ethereum.

Data from the crypto analytics platform Artemis indicates that Solana’s share of stablecoin transfers amounted to $63.6 billion out of a total of $116.7 billion. Ethereum followed with transfers totaling $26.6 billion.

It’s important to note, however, that Ethereum still holds a larger market cap in terms of stablecoin holdings on its blockchain, though much of this capital remains inactive.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628