Real Vision founder Raoul Pal recently shared his personal insights on the price trend of Solana (SOL) on his Youtube channel and why it may enter the so-called "banana zone (main uptrend)."
Raoul Pal pointed out that despite the large price fluctuations of SOL, it has shown extraordinary resilience, and the ability to issue low-cost NFTs and fast transaction speeds are key factors in establishing it as a leading blockchain technology. Raoul Pal said that since October last year, Solana has shown strong explosive power relative to Bitcoin and Ethereum, which has led her to believe that Solana will be the best-performing investment target in this cycle, and among his personal cryptocurrency holdings, 90% are invested in Solana (SOL),
Judging from the price chart, Raoul Pal believes that the SOL price is in a rising wedge shape. Once it successfully breaks through the upper trend line, the price increase will accelerate.
On the other hand, judging from the price chart of SOL/BTC, SOL's relative market capitalization also performs quite strongly against large cryptocurrencies. Raoul Pal believes that the performance of holding SOL will be better than that of Bitcoin. However, Raoul Pal also stated at the end of the video that he personally believes that the performance of Solana’s ecological meme currency WIF may have a chance to be better than SOL, but he will not and does not recommend that everyone allocate too much funds on it.
It is worth mentioning that Raoul Pal is not the only market participant to publicly express his optimism about Solana recently. According to previous reports by Zombit, cryptocurrency market maker GSR released a report that was optimistic about Solana’s technology and the changes in the U.S. political landscape, and claimed that under a bear market liquidity scenario, Solana could grow by 1.4 times, in a horizontal trend. It increased by 3.4 times under the market scenario and 8.9 times under the bull market scenario.
In this article, the founder of Real Vision revealed that 90% of crypto holdings are SOL. Why is he so bullish? First appeared in Zombit.
