Real Vision CEO and former Goldman Sachs executive Raoul Pal said Solana (SOL) may soon enter “hyperspace” after one of its competitors encountered significant resistance.
Pal told his 1.1 million followers on social media platform
“SUI puts his nose to the ceiling…then he has to go into hyperspace.”
Since Pal’s post, SUI has rebounded and is trading at $5.28 at the time of this writing.
Looking at Solana, the investor says he too is bullish on SOL. He shares a chart that suggests SOL has broken out of the channel, flipped the upper limit from resistance to support, and is currently climbing through psychological resistance at all-time highs.
“The long-term SOL chart is a stupid bull market… ”
As of this writing, SOL is trading at $215.
Pal has previously called on SUI to act as the “chosen one” in this market cycle and outpace Solana.
In an interview with Kevin Follonier on the When Shift Happens podcast, Pal said he was confident he would back the project in the belief that if it had any chance of success, it would be SUI.
“I am confident (Solana) will do very well. I see nothing but success and positive vibes in that chain. The question is whether the ‘next trade chosen’ should be so much riskier that it far surpasses that trade. So asking people to do it at full scale is not a guarantee.
For me it’s SUI, and not because I’m wearing foundation – I could go on about this because I’m wearing foundation, but I don’t. I waited until I saw confirmation price action. This is after every single token started outperforming Solana, ETH, and Bitcoin overall compared to Bitcoin.
“At that time, I felt comfortable thinking, ‘Listen, maybe this is what I was chosen for.’”
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