Raoul Pal is a Real Vision CEO and macro-guru who believes Solana was (SOLBitcoin will be beaten by a furious pace (BTCThis is the cycle.
Pal has launched a YouTube strategy session. says Solana may be creating a bullish head-and-shoulders pattern (IHNS), a pattern that is classic against Bitcoin.
“That’s a killer inverse head and shoulders, cup and handle, whatever it is. It’s suggesting there is a very big move to come in this cross, meaning Solana is going to outperform a lot. That is a typical signature of crypto summer, which is altcoin season.”
The inverse head-and-shoulders pattern has bullish implications, as the right shoulder indicates that the bulls will accumulate assets without waiting until the previous price low is reached.
SOL/BTC trades at 0.002688 BTC (about 182) as of the time of this writing. This is an increase by more than 2.7% within 24 hours.
The analyst also believes that Solana has printed a bullish chart that may lead to an upward price target. The current price is $265. This represents a gain of more than 45%.
“Solana, well, it’s breaking out. It’s retesting that breakout. That’s what it’s been doing the last couple of days. Looks beautiful. We want to see this kind of stuff, because test, retesting of breakouts, bit of sideways consolidation, brings you the power of the banana, which is all we care about.”
Pal believes that Solana flipped diagonal resistance from a triangle into support.
This month’s macroguru said The crypto market is moving closer to the mainstream “Banana Zone” or a period of sustained uptrend for Bitcoin and the rest of the digital asset market.
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