Solana (SOL) Poised for Upswing, According to Raoul Pal

Blenda Rosen
Blenda Rosen Crypto Business News
3 Min Read

A renowned macroeconomics expert and founder of Real Vision Raoul Pal, has expressed his optimism about Solana (SOL) in his most recent Global Macro Investor (GMI) newsletter  .Based on a through technical analysis, Pal believes that Solana is primed for a significant ascending movement after  consolidation phase  .

Solana’s Journey and Potential Reversal

Solana, that is a cryptocurrency which stood as a competitor to Ethereum experienced an abrupt decline following its peak in November 2021 . Its price dropped to around $20 from nearly $260  .However Pal sees promise in Solana’s current consolidation phase  . He highlights its successful breakout of the inverse head and shoulders pattern , signaling a possible trend reversal  .

solana sol poised for upswing according to raoul pal

Global Equity Insights

Market analyst Raoul Pal shares insights on global equities in his latest newsletter, which suggests a bullish outlook for these stocks  . Specifically Pal notes that if the All Country World Index successfully breaks a key resistance level, global equities could soar to new highs  .

The ACWI Index functions as a measure of the performance of large and mid-cap stocks in both developed and emerging markets  . Pal draws attention to the correlation between global stocks and the US Dollar Index (DXY) ,and further emphasizing the formation of a significant bottom resembling a head and shoulders pattern  . He expects a potential breakout with a small bullish pennant formation on the right shoulder acting as a catalyst  . Should the index surpass 94, it could pave the way for new record levels  .

Solana’s Path to Mass Adoption

In quest to reach widespread adoption and surpass cryptocurrency giants like Bitcoin and Ethereum, Solana is laser-focused on key areas that will shape its future .

Unleashing lightning-fast transactions, Solana has already made remarkable progress in scalability . But it doesn’t just stop there; it must ensure its infrastructure keeps up with the growing user base and increasing number of transactions .

Smooth interaction with other blockchains is a game-changing feature that appeals not only to users but also developers . Just like the incredible Wormhole Bridge, which is known for enabling smooth asset transfers between different blockchains . Continued investment in such groundbreaking technologies is pivotal for Solana’s ascending trajectory .

To forge ahead Solana must also foster a vibrant community of developers . Ethereum’s triumph is a proof the power of a thriving developer ecosystem, teeming with an incredible range of decentralized applications  .

As Solana grows with more useful and innovative dApps the allure for users to join its ranks grows exponentially . The future of mass adoption awaits Solana brick by brick, as it paves the way for a new era in cryptocurrency .

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Blenda Rosen
By Blenda Rosen Financial Writer
Hi there! My name is Blenda, and I'm a Personal Finance and Markets Reporter at California/USA Today. I graduated from San Jose State University with degrees in Business Administration and International Business, and I'm a Certified Public Accountant (CPA) in California. My passion is creating personal finance content that resonates with my readers. I know from experience how daunting managing personal finances can be, and I aim to provide actionable advice that people can use to improve their financial situations. Whether it's budgeting, saving, investing, or retirement planning, I'm here to help my readers make informed decisions about their money. As a financial journalist, I'm always seeking to expand my knowledge and skills in the field. I'm particularly interested in areas like venture capital, startups, fintech, payment methods, and international banking. I believe that staying up-to-date on the latest developments in the industry is crucial to providing valuable insights to my readers.
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