Veteran trader Peter Brandt, Ethereum $2,548warned that its biggest rival, Solana (SOL), could be at risk of a significant correction.
Peter Brandt’s Warning
Peter Brandt told hundreds of thousands of users who follow him on the X platform that if Solana loses the support level at the lower end of its trading range, it could fall by more than 43% from its current value.
“An observation on SOL. It is in a support area. If the support (around $129) is broken, the large rectangle will be completed and the price could drop to around $80.”
Brandt’s assessment urges investors to pay attention to Solana’s critical support level.
Optimistic Forecast from Inmortal
The second crypto trader, Inmortal, thinks that Solana is preparing for a big breakout. In his latest market assessment shared on the X platform, he stated that SOL will consolidate by breaking the falling resistance line and could reach around $350 by the summer of 2025.
“Solana is taking flight.”
According to Inmortal’s analysis, Solana could see a significant increase in value in the coming period, but it needs to clear the $188 and $210 barriers in the first stage.
Possibility of a New Peak in Bitcoin
Peter Brandt also Bitcoin 
$63,421He also shared a scenario where Bitcoin could reach new all-time highs. He suggested that Bitcoin may have been forming a major cup-and-handle formation since late 2020.
A cup-and-handle pattern is a bullish continuation pattern that usually indicates an asset takes a break after a sharp rise and consolidates before breaking through a key resistance level.
At the time of writing, Bitcoin is trading at $63,029, up about 3% in the last 24 hours. Experts say that these potential moves in both Solana and Bitcoin could have significant impacts on the cryptocurrency market. Investors should closely monitor market movements and pay attention to risk management.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
