Macroeconomic expert Raoul Pal acts like a seer in the cryptocurrency world. Recently, he made a strong prediction that Solana (SOL) will perform much better than Bitcoin (BTC). Pal voiced this claim in a strategy session on YouTube, pointing to significant technical formations indicating how Solana might change in the current market cycle.
Solana May Perform Much Better Than Bitcoin
The formation Pal highlighted is Solana forming an “inverse head and shoulders” (I-HNS) pattern compared to Bitcoin. This technical formation is usually seen as a precursor to a major upward movement. The inverse head and shoulders formation is a structure where prices create a series of troughs and peaks, signaling that buyers are ready to accumulate the asset. The formation’s occurrence suggests to investors that significant price movements are imminent.
Currently, the SOL/BTC trading pair is valued at approximately 0.002742 BTC, equivalent to $186. The gain in the last 24 hours reached 2.7%. Pal predicts that Solana’s price could rise to $265, which means an increase of over 45% from its current value. Pal emphasizes that Solana has broken away from its previous levels and is retesting this breakout, a process typically indicating that the asset is preparing for further increases.
Solana’s Period Defined as the Banana Zone
Pal considers Solana’s current phase as part of a bullish trend and notes that the asset is being tested and consolidated above its diagonal resistance. This technical movement suggests that Solana might be preparing for a longer-term upward trend. The period Pal defines as the “Banana Zone” is anticipated to be a time when the broader cryptocurrency market experiences an upward movement.
Pal’s analyses reveal that Solana has the potential to perform strongly in the near future, influenced by technical signals and market conditions. During the altcoin season, when alternative cryptocurrencies achieve greater gains compared to Bitcoin, Solana’s current technical structure appears to align with this potential. Overall, Pal’s predictions indicate that Solana will outperform Bitcoin. Solana’s price was $186 at the time of writing.
