Solana (SOL) Prepares for the Next Step Higher, According to Real Vision Founder Raoul Pal
Raoul Pal, a former Goldman Sachs executive and renowned macro expert, has made Solana (SOL) his latest bullish investment. Pal’s analysis, published in this week’s issue of the Global Macro Investor (GMI) newsletter, suggests that Solana may be on the rise.
Pal notes that Solana, often cited as a worthy rival to Ethereum (ETH), has recently experienced a period of consolidation following the completion of a pattern indicating a shift from a bearish to a bullish trend. This consolidation phase, according to Pal, serves as a precursor to Solana’s next significant steps.
Pal added, “Solana looks set to head higher after a period of consolidation following the inverted head and shoulders breakout in April.” He highlighted GMI’s successful bet on Solana earlier this year, with the asset having recorded gains this year of almost 150%.
Your knowledge is not limited to the cryptocurrency world. He also shifted his focus to global equities, predicting an upcoming rally based on the formation of a bullish pattern. Pal believes that if the key resistance level on the All-Country World Index (ACWI) is broken, global equities will hit new highs. Pal’s analysis relies heavily on the ACWI index, which measures the performance of large and mid-cap equities in developed and emerging markets.
Pal said, “Global equities just look like a mirror image of DXY and seem to form a huge head and shoulders bottom.” He also watched a small bullish pennant forming over the right shoulder, potentially providing the impetus needed to break through and triggering a breakout. Pal predicts that a new high will follow if the index rises above 94.
As Pal’s bullish sentiment gains traction, investors looking to capitalize on this potential opportunity will likely be closely monitoring Solana’s moves, keeping an eye on the global equity landscape, and keeping an eye on the critical ACWI index resistance level. Pal’s track record and expertise continue to captivate the attention of investors seeking valuable market analysis and potentially profitable investment opportunities.