Macroeconomic expert Raoul Pal predicted that Solana (SOL) will perform much better than Bitcoin (BTC). Pal stated that Solana is on the verge of a major upward movement and emphasized that this movement is supported by the "reverse head and shoulders" formation. Pal estimates that Solana could rise to $265, a 45% increase from its current price level.
Pal acts like a forecaster in the cryptocurrency world. Recently, he made a strong prediction that Solana will outperform Bitcoin. Sharing this prediction in a strategy session on YouTube, Pal pointed out Solana's "inverse head and shoulders" (I-HNS) structure, which is an important technical formation in the current market cycle. This formation is generally considered the precursor of a major upward move. The inverse head and shoulders formation is seen as a structure in which prices fluctuate in a certain order and signals that buyers are ready to accumulate. The formation of this formation suggests to investors that it may be a harbinger of major price movements.
Currently, the SOL/BTC trading pair is around 0.002742 BTC, which is equivalent to $186. The gain in the last 24 hours was measured as 2.7%. Pal predicts that Solana's price could rise to $265, which would represent an increase of over 45% from the current value. Pal notes that Solana has broken out from its previous levels, and this breakup usually indicates a preparatory phase for further increases.
Period described as the "Banana Zone" in Solana
Pal considers Solana's current situation as part of an uptrend, noting that the asset has been tested and consolidated above its diagonal resistance. This technical move suggests that Solana may be preparing for a longer-term uptrend. The period that Pal describes as “Banana Zone” is envisioned as a period in which the broader cryptocurrency market moves upwards.
Pal's analysis reveals that Solana has the potential to show strong performance in the near future, driven by technical signals and market conditions. During the periods known as the altcoin season, when alternative cryptocurrencies make greater gains compared to Bitcoin, Solana's current technical structure seems compatible with this potential. Overall, Pal's predictions predict that Solana will outperform Bitcoin. At the time of writing, Solana's price was at $186.
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