Real Vision CEO and macro expert Raoul Pal thinks Solana (SOL) could potentially outperform Ethereum (ETH).
The former Goldman Sachs executive says he thinks there’s an honest chance SOL “will do very well” if it eliminates a recent high against ETH.
“SOL/ETH broke the channel and has corrected. Not yet clear if its visiting outperform ETH yet but if it eliminates recent high, chances are high that it’ll do all right.
In last 4 weeks I built an honest long SOL (and added more ETH) but SOL is far smaller but still significant.”
In terms of its price in dollars, Pal says Solana (SOL) seems like it’s in an inverse head and shoulders formation, a technical analysis pattern that signals an outsized reversal during a downtrend.
“Definitely feels like an inverse head and shoulders on SOL…”
The pseudonymous trader called Cantering Clark is additionally bullish on the Ethereum challenger. The analyst tells his 140,500 Twitter followers that the proper market conditions could help Solana put together a large rally after SOL took out both its diagonal and horizontal resistances.
“If the market sustains this push by ETH, SOL rips much higher. Bunch of open interest and risk tagged on on the way down from $50-$40. Looks bottomed within the short term, can rip.”
Pseudonymous analyst Pentoshi is additionally optimistic about the crypto asset. Last week, he told his 587,000 Twitter followers that if SOL broke $42, it’d get to the $58-60, “maybe even $80.”
Solana is trading for $45.96 at time of writing. The 9th-ranked crypto asset by Market Cap is up nearly 13% within the past 24 hours and over 38% within the past seven days.
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