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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.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin