Renowned crypto trader Peter Brandt recently assessed the SOL/ETH chart, highlighting a critical resistance level that indicates a substantial asset supply. Brandt suggests a bullish scenario for Solana if this resistance is broken, potentially resulting in a doubling of its value compared to Ethereum.

Brandt emphasized the importance of technical analysis in cryptocurrency trading, particularly focusing on resistance levels to predict price movements. By overcoming the key resistance line, Brandt believes that Solana could experience a significant surge in value relative to Ethereum.

While Ethereum grapples with challenges like high transaction fees and issues with scalability solutions, some investors are contemplating a shift towards Solana due to its superior performance and lower fees. This has drawn attention to Solana as a viable alternative to Ethereum's scalability challenges.

Brandt also injected humor into his evaluation, joking about spreading FUD regarding Ethereum, despite clarifying that his sentiments towards Ethereum are not as negative as his humorous comments might suggest, showcasing a balanced view on the cryptocurrency market.

Ethereum Criticized as a “Junk Coin”

Brandt has previously criticized Ethereum, labeling it as a "junk coin" due to perceived shortcomings as a store of value and functional limitations, including hurdles with layer-2 solutions and high gas fees. Despite this criticism, Brandt maintains his belief that Bitcoin remains dominant in the cryptocurrency sphere.

Solana Price Performance

Over the last 24 hours, Solana has witnessed a 3.38% price increase, reaching $175.58. This surge was accompanied by a notable 94.40% spike in trading volume, amounting to $8.54 billion. In comparison, Ethereum's price rose by 1.87% to reach $3,333.40, with a trading volume dip of almost 11% to $13.39 billion.