The crypto market is slowly trying to recover following the latest price corrections that have been taking place.
At the moment, the most important digital assets are trading in the green and there are also some optimistic crypto predictions that are flying around.
The latest one comes from Peter Brandt who has something important to say about the price of Ethereum.
It’s been just revealed that crypto analyst and trader Peter Brandt is issuing a warning to Ethereum (ETH) traders.
He is saying that the leading smart contract platform will lose ground against its top challenger.
He recently said that he’s bearish on Ethereum from both the technical and fundamental perspectives.
“Ethereum ETH is in a bear trend because it is an overly complicated/expensive/awkward platform to the NFT (non fungible token)/specialty token universe/metaverse.”
If we take a look at his chart, we can see that ETH took two crucial support levels within a triangle structure and this is definitely showing the strength of a sell-off.
The analyst is taking a look at Solana (SOL) and says that Ethereum has been losing value against Solana ever since the (ETHUSD/SOLUSD) pair broke down from a head and shoulders pattern in March 2021.
“In fact, ETH’s bear trend against SOL is completely warranted. NFT nerds, please excuse me if I did not use the ‘correct’ terminology.”
At the moment of writing this article, SOL is trading in the green, and ETH is doing the same. ETH is now priced at $3,154.
Ethereum competitor could surge in price
The other day, we were revealing that ETH competitor Tezos could double its price.
It’s been reported that the analyst known as Guy just said on YouTube that the Ethereum (ETH) competitor’s built-in adaptability is key to its long-term prospects.
“Tezos is one of the few cryptocurrencies that has been explicitly designed to evolve so that it may not only survive but thrive…Tezos is on track to become one of the top cryptocurrencies.”
Stay tuned for more news from the crypto space.