Real Vision CEO Raoul Pal indicates why $30 and $50 are critically important levels for Solana (SOL) price
Solana , the native cryptocurrency asset of the eponymous blockchain, is getting closer to testing a major pattern. If it succeeds, the road to a new 66% rally might be open, a seasoned macro investor says. His opinion is aligned with the ever-growing way of optimism regarding Solana .Top macro investor and market commentator Raoul Pal has been extremely bullish on Solana all year. During this period, the asset's price added 171%.
It's up 171% this year and we are about to test the big inverse head and shoulders at $30.... next major resistance would likely be $50, once confirmed. 1/Right now, the Solana price is about to test the big"Inverse Head and Shoulders" pattern. The first"shoulder" was registered in early Q2, 2022. The bottom of the pattern therefore took place in December 2022 amid the most painful phase of the post-FTX-collapse market depression.
Also, Pal noticed that Solana performs well in pairs with both Bitcoin and Ethereum , the two largest cryptocurrencies by market capitalization.Yesterday, Oct. 20, 2023, the Solana price stopped one step away from the coveted $30 level. At printing time, the asset is changing hands at $28.92, being 8.2% up in the last 24 hours.As a result, Solana might see a bright future in the midterm.
Let's see but it feels like SOL is going to lead us from Crypto Spring eventually into Crypto Summer in 2024In terms of technology, Solana's parallelization concept might be attractive for dApps from Ethereum as the second largest blockchain is lagging with sharding, investor Justin BonsBitcoin to Hit $750,000 by End of Decade, Anthony Scaramucci Believes
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