Real Vision CEO and Macro Guru Raoul Pal weighs in on the potential of Solana (SOL), the long proclaimed “Ethereum killer”.
According to the former Goldman Sachs executive, despite the upcoming upgrade to the Ethereum (ETH) network set for September, SOL could potentially be doing “very well” and start outperforming Ethereum. Pal explained to his almost 1 million Twitter followers:
“SOL/ETH broke the channel and has corrected. Not yet clear if its going to outperform ETH yet but if it takes out recent high, chances are it will do very well.
In last 4 weeks I built a decent long SOL (and added more ETH) but SOL is much smaller but still significant.”
When considering its pricing in dollars, SOL looks like it’s in an inverse head and shoulders formation, Pal notes, a pattern resembling a large reversal in a downtrend:
“Definitely looks like an inverse head and shoulders on SOL…”
Nevertheless, while sharing his enthusiasm for Solana, Raoul Pal put out disclaimer and said:
“I tell you this to be transparent, not to shill you anything trolls and reply guys and sure, it is probably not your favourite crypto and sure others might do better and yes, it might not work but I like it. I also might change my mind too. Is that enough bloody caveats for you?”
SOL is trading at $40.98 at time of writing, according to CoinMarketCap data, up nearly 19% in the last week.
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