Key Points
- Peter Brandt predicts Solana (SOL) could outperform Ethereum (ETH) by 100% in the coming months.
- Solana’s recent recovery outshines Ethereum’s, based on the SOLETH ratio.
Peter Brandt, a well-known trader and price chart analyst, has forecasted that Solana (SOL) may double the performance of Ethereum (ETH) in the next few months.
Brandt’s Prediction
Brandt’s prediction is based on the SOLETH ratio, which measures SOL’s performance relative to ETH.
At present, the SOLETH ratio stands at 0.059, implying that SOL is valued at 0.059 ETH.
A rising ratio indicates SOL outperforming ETH, while a falling ratio suggests the opposite.
The overall SOLETH price action has formed a cup-and-handle pattern, typically a bullish signal.
The immediate breakout point is projected to be 0.11, according to Brandt.
Recent Performance of SOL and ETH
If this forecast comes true, SOL holders will see greater profits than ETH holders.
In its most recent recovery, SOL has already surpassed ETH.
Over the past five trading days, SOL has risen by 12% and is currently trading above $150.
Meanwhile, ETH has dropped by 2.7% over the same period, despite trading above $2500.
Despite recent market uncertainty, Solana’s price has remained relatively stable.
Mert Mumtaz of Helius Labs asserts that the recent surge in memecoin activity, which has led some to label SOL a ‘gambling chain’, is a broader issue in the crypto space, not specific to Solana.
In terms of daily active addresses, DEX volumes, and revenues, Solana has overtaken Ethereum on several fronts.
However, with a total value locked (TVL) of $48 billion compared to SOL’s $4.9 billion, Ethereum still leads, indicating higher investor confidence.
