Experienced trader Peter Brandt reviewed his previous bearish expectations for Ethereum (ETH), one of the leading altcoins of the cryptocurrency market. Brandt shared his prediction that Ethereum could drop to $650, with the short position he opened in ETH in recent weeks. However, with the updates coming, Brandt stated that market conditions can change rapidly and that Ethereum does not have a bearish trend as it overcomes the resistance of the ascending triangle formation.
A noteworthy point in Brandt’s statements on the subject is that strong views may weaken depending on the dynamics in the market and traders should adapt their strategies flexibly. “When conditions change, my opinion changes,” Brandt said, updating his previous low price prediction for Ethereum and withdrawing his bearish expectation based on chart analysis. stated.
“Strong views are weakly held. When conditions change, my opinion changes too. My last assessment of ETH indicated that the price would crash immediately, but this did not happen. “I withdrew my bearish view based on the chart structure.”
At press time, the leading altcoin is trading at $2,291 and is still above the resistance of the formation.
Ethereum is not the only altcoin the analyst is examining. Solana (SOL), an important player in the cryptocurrency world, maintains its high potential according to experienced analyst Peter Brandt. Solana, which is considered a strong competitor of Ethereum, continues to attract the attention of investors with a successful exit.
According to analysis by Peter Brandt, Solana’s SOL/USD successfully surpassed the log scale target of $86.48. However, Brandt emphasizes that there is a high probability that Solana will continue to rise from this point. The analyst points out Solana’s growth potential by saying, “Of course, prices can go well beyond the target levels.”
“Solana SOL/USD’s log scale target of $86.48 was met. Of course, prices can go well beyond target levels.”
At press time, Solana is trading at $109, up nearly 51% in the last seven days.
You can follow the current price movement here.