Renowned macroeconomist and CEO of Real Vision Raoul Pal is bullish on two cryptocurrencies Solana (SOL) and Sui (SUI), which he believes have a good long-term outlook.

The expert believes that the fifth-largest by market cap Solana is a “dumb bull” on a long-term time frame. In his analysis, he pointed out that SOL recently broke through a major resistance level that has been in place for over four years.

He suggests that Solana needs to hold above its November 2021 high of over $250 to continue its upward momentum. Based on this, Pal has set a target of $410, which corresponds to the 1.618 Fibonacci level.

Solana price change in 24 hours. Data from CoinGecko

Solana’s success is bolstered by the announcement of a new solution, Winternitz Vault, which uses quantum-resistant hash functions to protect Solana from quantum computing attacks. At the same time, Pal reminded that Solana's supply will increase in the near future due to a large token unlock in Q1 2025, which could create selling pressure. Despite this, he believes in Solana's future success.