Peter Brand, a popular trader and crypto expert, is addressing potential future prices for Ethereum and Solana as well. Check out the latest reports about this below.
ETH and SOL price predictions are out
Peter Brandt, an experienced trader, had previously shared his bearish outlook on Ethereum (ETH) on the social media platform X.
He had predicted that the leading altcoin could fall as low as $650 and had even shorted ETH.
However, in a recent update, Brandt has changed his stance and is no longer expecting a big move to the downside.
This is because ETH has managed to break above the resistance of an ascending triangle pattern.
“Strong opinions, weakly held. When circumstances change, my opinion changes.
My recent appraisal of ETH called for an immediate price collapse – that has not happened. I have withdrawn my bearish outlook based on chart structure.”
As of now, the current trading price of Ethereum is $2,316, which is still above the resistance level of the pattern.
When analyzing Solana (SOL), a competitor to Ethereum, the expert analyst suggests that although the altcoin has already reached its target for growth, it is still possible for the coin to continue increasing in value.
“The log scale target of $86.48 of Solana SOL/USD has been met. Of course, prices can trend well beyond target levels.”
At time of writing, Solana is trading for $111.55, up about 56% in the last seven days.
Solana and more price explosions
The native token of a decentralized exchange (DEX) developed on Solana (SOL) has surged by over 95% this week due to the network’s rapid growth.
Raydium (RAY) is an automated market maker (AMM) with an on-chain order book. RAY’s native token is currently trading at $1.72, up from approximately $0.88 a week ago.
The crypto asset is ranked 144th by market cap and has risen by almost 16% in the last 24 hours and over 1,140% since the beginning of 2021.
