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Former Goldman Sachs executive and macro expert Raoul Pal has expressed optimistic views about Solana 
$172 (SOL), a competitor to Ethereum 
$2,690. Pal highlighted a long-term promising outlook in Solana’s chart, indicating a potential rally could also be imminent for Ethereum.
Solana Shows Positive Signals on the Chart
On the social media platform X, Pal shared with his 1.1 million followers that he observes favorable signals in Solana’s weekly chart. He emphasized that Solana has emerged from a downward channel and is moving upward.
Pal stated, “If Solana achieves an upward breakout, it could quickly gain momentum.” He also noted that SOL could challenge its all-time high of $260 again.
His insights are capturing the attention of market participants. At the time of writing, the cryptocurrency was trading at around $240, indicating a support level established post-channel breakout.
Ethereum Forms a Symmetrical Triangle
Pal also examined Ethereum’s chart, noting that it has formed a symmetrical triangle in the weekly timeframe. This formation suggests that if the price breaks above the triangle’s upper boundary, a positive trend could commence.
He advised caution, stating, “Ethereum might either pull back briefly to gain strength or execute the breakout immediately.” His analysis indicates that Ethereum’s price could test critical levels, with the cryptocurrency trading at $3,913 at the time of writing.
Investors monitoring this critical formation in Ethereum are closely observing the charts to predict the next move.
Overall, Raoul Pal’s comments paint a positive picture for both Solana and Ethereum. Solana’s technical charts indicate long-term growth potential, while a breakout of the symmetrical triangle in Ethereum could lead to a significant rally. Investors should carefully monitor the price movements of these two digital assets, as technical analysis signals can play a crucial role in determining market strategies.
