Peter Brandt shared his perspective in an intriguing tweet and chart comparing Solana (SOL) and Ethereum (ETH).
Brandt, in his post, referred to a classic bullish chart pattern known as a “cup and handle” or C&H pattern, as it formed in the SOL/ETH trading pair.
“By the way, this C&H pattern is still playing out. SOL has lots of room to gain on its invalid cousin, $ETH,” he said. His comment is signaling a huge blow-off against Ethereum by Solana.
Solana could double its value compared to Ethereum
The chart Brandt posted on his X handle is a weekly timeframe of SOL/ETH pulled from TradingView. Currently forming in the chart is a large bottom pattern shaped like the ‘cup’ followed by a smaller ‘dip and consolidation period’ at the ‘handle.’
This is a well-known technical pattern that usually suggests a breakout to the upside.
This C&H is still playing out, by the way.
SOL has lots of room to gain on its invalid cousin, $ETH pic.twitter.com/DdguqcNfIl— Peter Brandt (@PeterLBrandt) April 22, 2025
The dotted horizontal line in the chart marks a major resistance. It is just above 0.085 in the chart, with the SOL/ETH pair currently trading around this level.
It means that SOL/ETH may be poised for a major breakout soon. The chart has two price targets: 0.110924 and 0.2098094.
This implies that if the cup and handle formation is completed, SOL could soar drastically against ETH, probably exceeding 100%. This could indicate a major change in the disparity between the performance ratio of the two tokens, with Solana receiving the spotlight where Ethereum has been dominant.
Technical indicators are also bullish on Solana
In the chart, there are still more bullish indications, including moving averages such as the weighted mean average (WMA). The trading volume, as indicated by the blue and green bars at the bottom, has also increased, which shows that more people are interested in Solana either for short-term or long-term gains.
Brandt argues that Ethereum is ‘invalid’ and predicts Ethereum will keep growing weaker, while Solana keeps getting stronger. The use of such language reveals how such sentiment exists amongst traders about the fact that Solana has now become a credible challenger to Ethereum.
Solana has been receiving lots of attention lately, with Cathie Wood’s ARK Invest making their first direct SOL investment on Monday, April 21, 2025.
