Raoul Pal predicts bullishness for Solana (SOL), highlighting gains even after record high. The forecast coincides with two ETF filings that could boost demand and visibility for the cryptocurrency.
For investors, this prediction is in line with Solana’s expanding ecosystem and growth. The main question remains: how far can SOL climb before reaching the top of this bull cycle?
Raoul Pal expects Solana to continue rising
Raoul Pal’s comment came after the price of SOL surged above its previous peak of $260. According to the investor, who is also the founder of Real Vision, a crypto education platform, the rally is far from over, suggesting that the recent surge could be the start of another incredible run.
SOL — it's been quite a journey so far, from the lowest point to new all-time highs. Much more to come, Raoul Pal shared on X.
Furthermore, this prediction from Raoul Pal about Solana may not come as a surprise to market observers. Since the FTX collapse in 2022, Raoul Pal has consistently argued that Solana was undervalued, especially after it dropped as low as $8.
What makes this prediction even more intriguing is its timing. It coincides with two notable developments in the institutional space: asset management giants VanEck and 21Shares filing for Solana-based ETFs.
These orders indicate growing institutional interest in Solana, potentially driving demand and reinforcing bullish sentiment around its price potential.
In addition to institutional developments, retail investors are also contributing to the growing momentum. According to Token Terminal, Solana’s monthly active users have seen a significant increase, reaching 134.60 million.
Solana Monthly Active Addresses. Source: Token Terminal
However, this increase reflects a rise in the number of addresses actively transacting SOL, suggesting broad interest in the ecosystem.
Such sustained growth in active users generally suggests healthy network activity and adoption — both of which are bullish indicators for the altcoin’s long-term outlook.
SOL Price Prediction: Does $300 Seem Feasible?
On the daily chart, Solana’s price, currently at $258.81, has surged due to the formation of an inverted head and shoulders pattern. This is a bullish chart pattern that indicates a possible reversal from a downtrend to an uptrend.
Additionally, a neckline connects the peaks of the two troughs and serves as a key resistance level. When the price breaks above this neckline, it confirms the reversal, often accompanied by an increase in volume.
Solana Daily Analysis. Source: TradingView
As seen below, SOL price has broken out of the pattern. If buying pressure increases, the altcoin could surge as high as $300 in the short term.
However, a break below the $235.91 support could invalidate the thesis. In such a scenario, the cryptocurrency could fall to $215.21.
The article Solana (SOL) Rally Is Far From Over, Says Expert appeared first on BeInCrypto.
