Solana and Ethereum on the Verge of a Major Breakout in the Coming Weeks – Raoul Pal

Raoul Pal, a former Goldman Sachs executive and macroeconomic expert, has expressed strong optimism about the potential of Solana (SOL), a major competitor to Ethereum (ETH).

Pal shared that Solana’s long-term chart shows immense bullish potential, stating that the price is on the verge of a significant breakout. He emphasized that once the price surpasses its current resistance, it is likely to experience a sharp acceleration.

Pal pointed to a key technical pattern on Solana’s weekly chart, indicating that it has recently broken out of a descending channel. With a target near its previous all-time high of just over $260, Solana is currently trading at approximately $240.

Turning to Ethereum, Pal predicts that Ethereum could undergo a spectacular rally if it manages to break through the upper boundary of a symmetrical triangle pattern, which typically signals bullish momentum when the price breaches its top line.

READ MORE:

Binance Set to Delist These Altcoin Pairs From its Futures Trading Platform

Pal mentioned two possible scenarios for Ethereum’s future: either a pullback to gather more momentum or an immediate surge through the resistance.

Alexander Zdravkov