Veteran Trader Peter Brandt Withdraws Bearish Outlook on Ethereum, Says Solana Can Continue Trending Higher

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Seasoned dealer Peter Brandt says he’s now not anticipating the main altcoin Ethereum (ETH) go on a giant transfer to the draw back.

Final week, Brandt informed his 707,300 followers on the social media platform X that he was shorting Ethereum, predicting that ETH might tumble to as little as $650.

In an replace, the veteran dealer says that circumstances have modified and he’s now not bearish on the highest altcoin as ETH has managed to maneuver above the resistance of an ascending triangle sample.

“Sturdy opinions, weakly held. When circumstances change, my opinion adjustments.

My current appraisal of ETH known as for a right away worth collapse – that has not occurred. I’ve withdrawn my bearish outlook primarily based on chart construction.”

At time of writing, Ethereum is buying and selling for $2,316, nonetheless above the sample’s resistance.

Taking a look at Ethereum rival Solana (SOL), the seasoned analyst says that whereas the altcoin has already met his upside goal, it’s nonetheless throughout the realm of chance for the coin to proceed going up.

“The log scale goal of $86.48 of Solana SOL/USD has been met. After all, costs can pattern effectively past goal ranges.”

At time of writing, Solana is buying and selling for $111.55, up about 56% within the final seven days.

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