Macro guru Raoul Pal made a cryptic post about Solana. With his message, the legendary trader doubles his bet on Solana. According to his message, Pal is very hopeful about the future of the altcoin project.
Macro Guru: The sun will surely rise on Solana!
According to a cryptic post by famous economist Raoul Pal, there may be a bull run ahead for Solana, which is facing what can be called a moment of truth after last month’s uneven growth. According to Pal, the Sun will also rise over the SOL. That’s why Pal says investors should “stick with the program.” The macro guru shared a chart showing that Solana is bound to break out of the resistance zone at $92.92. In this context, Pal used the following statements accompanied by a graphic:
Stick to the schedule… Of course the sun rises on the LEFT as well. Daily chart perfection? Maybe, just maybe.
cryptokoin.comAs you follow from , Solana has dropped to $79.07 since the beginning of the year. However, Solana increased its price by more than 700% in one of its historic surges since the beginning of the crypto winter. That’s why it took its place among the best-performing cryptos in the market in 2023. The ongoing recovery in Solana is still weaker than the $125 peak it reached last year. According to the chart he shared, Raoul Pal questions Log Chart Perfection, which he thinks is a very important clue for the bull phase of the cryptocurrency.
How bullish is the altcoin project?
The second iteration of Solana’s smartphone Saga has now made a big splash in the tech world. So, a lot of things are going well for Solana in a positive way right now. Raoul Pal has always been one of Solana’s biggest advocates. It even put it ahead of its main rival Ethereum (ETH). In earlier comments, Raoul Pal compared Solana to Apple’s Blockchain ecosystems. In addition, he labeled its rival Ethereum as Android. Thus, he emphasized that the protocol has an impressive place in today’s Web3 world.
The growth of new ecosystems and communities pursuing DePin, NFTs, and DeFi offerings positions Solana as one of the most respected networks poised for growth, according to experts, among others.
LEFT technical view: Upside momentum is increasing!
Technical analyst Victor Olanrewaju evaluates the short-term technical picture of Solana. The altcoin fell to $79 on January 23 as the bears controlled the price movement. However, a move above $90 indicates that the correction phase may be complete. Additionally, the Money Flow Index (MFI) increased to 60.64. This indicated an increase in buying pressure. If this data continues to soar, it is possible that SOL could resist another decline. Meanwhile, the Moving Average Convergence Divergence (MACD) also confirmed this trend. At the time of writing, the MACD has moved into positive territory. This shows that the upward momentum is increasing.
However, traders will need to pay attention to the barrier at $94.56. If buyers push the price above this resistance, it is possible for the altcoin price to rise to $100. However, failure to do so could send the price back below $90.
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