Former Goldman Sachs executive and macro expert Raoul Pal on Ethereum $3,882.9 He shared his positive views on his rival Solana (SOL). Pal stated that Solana’s chart has a promising long-term outlook. On the other hand, he pointed out that a major rally in Ethereum may be imminent.
Conversion Signals on Solana’s Chart
Pal stated to his 1.1 million followers on the social media platform X that positive signals were seen in Solana’s weekly chart. In particular, he pointed out that Solana broke out of a downward channel and headed upwards.
“Solana breaks out to the upside and can gain momentum quickly in this situation,” said Raoul Pal. The expert stated that SOL could push the all-time high of $260 again.
These views of Pal draw investors’ attention to Solana. The cryptocurrency was trading at $240 at the time of writing. This indicates that a support level has been formed after the channel breakout.
Symmetrical Triangle Formation in Ethereum
Pal also examined Ethereum’s chart. He pointed out that Ethereum formed a symmetrical triangle formation on the weekly time frame. This formation shows that if the price breaks the upper border of the triangle, it can start a positive trend.
Pal advised caution by saying, “Ethereum can either retreat for a short time and gather strength, or breakout immediately.” In his analysis, he stated that Ethereum’s price could test critical levels. At the time of writing, the price of Ethereum was at $3,913.
Investors following this critical formation of Ethereum follow the charts closely to predict the next move.
General Appearance
Raoul Pal’s comments paint a positive picture for both Solana and Ethereum. Solana’s technical charts indicate long-term upside potential. A spectacular rally is expected in Ethereum if the symmetrical triangle formation is broken.
Investors should carefully monitor the price movements of these two digital assets. Technical analysis signals can play a critical role in determining market strategies. Pal’s expert comments offer an important guide for those who want to understand the future movements of these cryptocurrencies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
