Raoul Pal, a former Goldman Sachs executive who is also a macro-expert, has a bullish outlook on ETH (large cap Ethereum)’s competitor.
Pal informs his 1.1-million followers via the social media platform X, that “literally there couldn’t have been a bullish chart on a longer timeframe” other than Solana’s (SOL), on a weekly basis.
Pal’s chart for the past week suggests that Solana has broken out of the descending channel, and now wants to break above the resistance around the price level of the highest ever recorded of $260.
Solana was trading for $240 as of the time this article is written.
Ethereum is next. The former Goldman Sachs executive believes that Ethereum’s rally will be “spectacular”, if it is able to break out of the upper border of the symmetrical triangular pattern formed in the weekly timeframe. Technically, the breakout of an upper boundary in a triangle pattern that is symmetrical can be bullish.
Pal says Ethereum will have two choices going forward.
Ethereum currently trades at $3.913 as of the time this article was written.
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The post Raoul Pal, Macro Guru: Top Ethereum Rival has a Massively Bullish Chart. It will Accelerate after Breakout.
