Renowned trader Raoul Pal is strengthening his position on Solana (SOL) after sharing a post about the coin’s prospects.
Pal’s mysterious message suggests a potential bullish trend for Solana, which has faced a critical juncture following a period of erratic growth over the past month.
Stick with the program… The Sun Also Rises $SOL
Log chart perfection? Maybe, just maybe… pic.twitter.com/S9Ctcs15pl
— Raoul Pal (@RaoulGMI) January 27, 2024
Raoul Pal’s Solana Confidence
Encouraging investors to “stick with the program,” Pal shared a chart indicating Solana’s potential breakthrough from the resistance zone at the $92.92 price range.
Despite recent fluctuations, Solana’s current trading level has shown resilience after dipping to $79.07 earlier in the year during a broader market slump. In 2023, Solana notably outperformed the market with a staggering 700% price surge, contributing to its historic run since the onset of the crypto winter.
Although promising, the ongoing recovery in Solana falls short of the previous peak growth exceeding $125. Examining the chart, Pal raises questions about the Log Chart Perfection, identifying it as a crucial indicator for the coin’s potential bull phase.
Solana is currently experiencing positive developments, with the second iteration of its Saga smartphone gaining traction in the tech world.
Raoul Pal, a consistent supporter of Solana over its core rival Ethereum (ETH), compares Solana and Apple’s blockchain ecosystems, positioning Ethereum as the Android. Pal’s earlier remarks indicate that this analogy reflects Solana’s impressive standing in the contemporary Web3 landscape.
Once you play around in the $SOL ecosystem, it feels super fast, slick, inviting and easy for the user.
The best comparison is SOL is Apple and ETH is Android.
Both win. Huge.
— Raoul Pal (@RaoulGMI) November 29, 2023
