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

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

Final week, Brandt advised 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 not bearish on the highest altcoin as ETH has managed to maneuver above the resistance of an ascending triangle sample.

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

My latest appraisal of ETH referred to as for a right away value collapse – that has not occurred. I’ve withdrawn my bearish outlook based mostly on chart construction.” 

Supply: Peter Brandt/X

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 target of $86.48 of Solana SOL/USD has been met. Of course, prices can trend well beyond target levels.” 

Supply: Peter Brandt/X

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

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