Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Legendary trader Raoul Pal is doubling down on his bet on Solana (SOL) following a major cryptic post he shared on the coin. According to the cryptic post from Raoul Pal, there might be a bull run ahead for Solana, which has been facing what might be termed a moment of truth after the erratic growth of the past month.
Godfrey BenjaminAccording to Raoul Pal, investors need to "stick with the program" as the Sun can also rise on SOL. Raoul Pal shared a chart that shows Solana is bound to break from the resistance zone at the $92.92 price range. Solana traded at this level after falling as low as $79.07 since the start of the year, marked by the unprecedented slump in the broader market.
Solana outperformed the market in 2023 when its price rose by more than 700% in one of its historic surges since the start of the crypto winter. The ongoing recovery in Solana is still a far cry from the more than $125 growth it recorded as its growth peaked in the past year.
Per the chart he shared, Raoul Pal questions the Log Chart Perfection, which he posits is a crucial hint to the bull phase of the coin.
Solana (SOL) bullish luster
So many things are going positively well for Solana at this time, down to the great start the second iteration of its smartphone Saga has picked up in the tech world at the moment.
Tomiwabold OlajideRaoul Pal has always been a top advocate for Solana, even above its core rival Ethereum (ETH). In earlier comments, Raoul Pal compares Solana to Apple's blockchain ecosystems while labeling Ethereum as the Android, a showcase that the protocol has occupied an impressive place in today's Web3 world.
The growth of emerging ecosystems and communities in pursuit of DePin, NFTs and DeFi offerings among others have positioned Solana as one of the most respectable networks primed for growth.
Yuri Molchan
Gamza Khanzadaev
Dan Burgin
Alex Dovbnya