Raoul Pal, the founder of Real Vision, recently shared his personal views on the price trend of Solana (SOL) on his YouTube channel and explained why it might enter the so-called “banana zone” (main rising phase). Raoul Pal pointed out that despite the large price fluctuations of SOL, it has demonstrated remarkable resilience, and its 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 stated that since last October, Solana has shown strong explosive power compared to Bitcoin and Ethereum, which has made him start to believe that Solana will be the best performing investment target in this cycle, and he has invested 90% of his cryptocurrency holdings 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, looking at the SOL/BTC price chart, SOL’s relative market value against major cryptocurrencies also appears quite strong. Raoul Pal believes 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 that people allocate too much capital to it.
It is worth mentioning that Raoul Pal is not the only market participant who has recently publicly expressed optimism about Solana. According to a report previously released by Zombit, the cryptocurrency market maker GSR holds an optimistic view on Solana’s technology and the changes in the US political landscape, claiming that under a bear market liquidity scenario, Solana could grow 1.4 times, under a sideways market scenario 3.4 times, and under a bull market scenario 8.9 times.