Raoul Pal’s Bullish Outlook on Solana (SOL)
In a recent post on X, Raoul Pal, the CEO of Real Vision, shared an optimistic forecast for Solana (SOL), describing the long-term SOL chart as “stupid bullish.” He pointed out a significant resistance level that has capped Solana’s rally for over four years. For SOL to break free and continue its ascent, it must surpass its November 2021 high of $250.
Key Resistance Levels and Future Targets
Pal’s followers echoed his analysis and identified the next Fibonacci level (1.618) as a critical target for SOL. To achieve this, the SOL price would need to reach a substantial $410. This target suggests a considerable upward potential for investors and traders eyeing Solana’s future performance.
Potential Cup-and-Handle Pattern
Adding to the bullish sentiment, renowned on-chain analyst Ali Martinez proposed the possibility of SOL forming a cup-and-handle pattern, which could propel its price to an astonishing $4,000. Such a pattern, if realized, would mark a significant milestone in SOL’s market trajectory.
Challenges Facing Solana Holders
Despite these promising forecasts, some critics caution Solana holders about potential selling pressure due to anticipated large-scale token unlocks expected in the first quarter of 2025. Investors are advised to remain vigilant and consider these factors in their investment strategies.
SUI: A Promising Altcoin
Meanwhile, Raoul Pal also highlighted SUI as a noteworthy altcoin choice, emphasizing its potential after surpassing the $4.88 resistance level. On January 4, 2025, SUI achieved a new all-time high of $5.22, while its trading volume surged to $2.45 billion within 24 hours. This remarkable performance underscores SUI’s growing appeal among crypto enthusiasts.
Potential Launch of a Solana (SOL) ETF
Speculations and Predictions
Speculation regarding a potential Solana ETF is intensifying. Matthew Sigel, VanEck’s head of research, expressed optimism about the likelihood of a Solana ETF listing in the United States. He stated that the odds are even higher than Polymarket’s forecast, which estimated a 77% chance of a US Solana ETF listing by 2025. Sigel described Polymarket’s prediction as “underpriced” in a recent post on X.
Political Influence on ETF Approval
Industry analysts suggest that a victory in the US presidential race could pave the way for the approval of several proposed crypto ETFs, including Solana. Following Trump’s election win, Sigel reportedly noted that the prospects of a US Solana ETF being greenlit in 2025 have become overwhelmingly high. This development could significantly impact Solana’s market position and attract more institutional interest.
