Solana Poised for Breakout Against Ethereum, Says Peter Brandt

Veteran trader Peter Brandt has sparked discussion with a tweet highlighting a classic "cup and handle" (C&H) pattern forming on the SOL/ETH chart. The weekly chart, shared on Brandt’s X account, shows Solana (SOL) potentially setting up for a major breakout against Ethereum (ETH). Currently hovering near 0.085, the chart’s horizontal resistance line, SOL/ETH appears ready to challenge this level and possibly surge toward Brandt’s targets of 0.1109 and 0.2098—implying a potential gain of over 100% relative to ETH.

The C&H formation is widely regarded as a bullish continuation pattern in technical analysis, signaling growing momentum. According to Brandt, "This C&H pattern is still playing out. SOL has lots of room to gain on its invalid cousin, $ETH." His sharp criticism of Ethereum reflects a broader market sentiment that sees Solana as a rising contender in the Layer 1 space. This shift is further supported by increased trading volume and bullish moving averages, including the weighted mean average (WMA), seen in the chart.

Solana's rise is also gaining institutional backing. ARK Invest, led by Cathie Wood, made its first direct investment in SOL on April 21, 2025. This move underscores growing confidence in Solana’s long-term potential, especially as Ethereum continues to face scalability and gas fee challenges.

Brandt’s analysis positions Solana not just as an alternative but as a formidable rival to Ethereum. With bullish chart patterns and strong institutional interest aligning, the narrative of SOL outperforming ETH is gaining traction among investors. As the breakout nears, market watchers are eyeing Solana’s next move closely.