Raoul Pal, the founder of Real Vision, recently shared his personal views on the price trend of Solana (SOL) on his YouTube channel, explaining why it might enter the so-called “banana zone” (a major uptrend). Raoul Pal pointed out that despite SOL’s significant price volatility, it has demonstrated remarkable resilience. The ability to issue low-cost NFTs and its rapid transaction speed are key factors in establishing its position as a leading blockchain technology. Raoul Pal noted that since last October, Solana has shown strong momentum compared to Bitcoin and Ethereum, which has led him to believe that Solana could be the best-performing investment of this cycle. In his personal cryptocurrency portfolio, 90% is invested in Solana (SOL).
Looking at the price chart, Raoul Pal believes that the SOL price is currently in an ascending wedge pattern, and once it successfully breaks through the upper trend line, the speed of the price increase will accelerate.
On the other hand, the SOL/BTC price chart shows that SOL’s relative market value is also quite strong against major cryptocurrencies. Raoul Pal thinks that holding SOL will perform better than Bitcoin. However, at the end of the video, Raoul Pal also expressed his personal opinion that the performance of Solana’s ecosystem meme coin WIF might have the chance to outperform SOL, but he would not and does not recommend allocating too much capital to it.
It is worth mentioning that Raoul Pal is not the only market participant who has recently expressed optimism about Solana. According to a report by Zombit, the cryptocurrency market maker GSR has taken an optimistic view of Solana’s technology and the changes in the US political landscape, claiming that under a bear market liquidity scenario, Solana could grow by 1.4 times, in a sideways market scenario by 3.4 times, and in a bull market scenario by 8.9 times.
