Raoul Pal, a macro expert and CEO of Real Vision, thinks Solana (SOL) will outperform Bitcoin (BTC) by a wide margin this cycle.
In a new YouTube strategy session, Arms said Solana could be printing a classic bullish inverse head and shoulders pattern (I-HNS) for Bitcoin.
“That’s a killer inverse head and shoulders, cup and handle, whatever. It suggests that there’s going to be a very big move coming out of this crossover, which means Solana is going to outperform a lot of things. That’s a typical feature of crypto summer, which is altcoin season.”
The inverse head and shoulders pattern is a technical formation that has bullish implications because the right shoulder suggests that there is a willingness to buy the asset without waiting for the price to fall to a previous low.
At the time of writing, SOL/BTC is trading at 0.002688 BTC ($182), up more than 2.7% in the last 24 hours.
He also suggests that Solana is printing a bullish pattern that could lead to price targets being reached. It is up more than 45% from its current value of $265.
“Solana, well, it’s exploding. We’re retesting that explosion. We’ve been doing that for the last couple of days. It looks beautiful. That’s the kind of thing I want to see, because testing, retesting that explosion, a little bit of lateral integration is what gives us the power of the banana, and that’s all we care about.”
Looking at his chart, the arm suggests that Solana has flipped the diagonal resistance line of the triangle pattern into support.
Last month, a macro expert said cryptocurrencies were approaching the “banana zone,” or a period of sustained bullish momentum for Bitcoin and the rest of the digital asset market.
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