Renowned economist Raoul Pal says smart contract giant Ethereum (ETH) will be pushed back by an altcoin project as it maintains bullish expectations.
“Big things are coming in this altcoin project”
Real Vision CEO to his 918,400 Twitter followers, as Solana seems to be on its way to outperform Ethereum (SOL/ETH) more than the SOL ecosystem. said he expects much improvement:
The SOL/ETH chart is very interesting. Solana (SOL) has been relatively quiet lately, but this chart is close to bursting. I have a feeling there is a lot to come from the Solana ecosystem. I’ve been here for over a year.
Pal’s comment comes after Solana (SOL) rallied above $140 yesterday after falling below $80 in March. While SOL is gaining momentum against Ethereum in the current price action, Pal says ETH versus Bitcoin (ETH/BTC) is bullish.
Raoul Pal stressed his confidence in the future of the cryptocurrency market
The macro guru also shares his view on crypto as the market is showing signs of recovery after a multi-month downtrend. Pal said in a recent interview that there is a long-term uptrend in the emerging asset class:
If you think growth is slowing and inflation is going to slow down, you want to own stocks and you want to own crypto and that’s fine… what do you have when gold is going nowhere? ? I’m still 100% crypto because I think this is the biggest secular trend of all time. At the level of a global macro investor, I’m the long dollar. I’m starting to buy exponential stocks and long crypto and trying to pick the top in the bond market.
Solana targets $150
As we have mentioned in the analysis of Kriptokoin.com, Solana (SOL) made recovery attempts many times during the November 2021-March 2022 price correction. It crossed a critical resistance level limiting it, boosting upside hopes in April. From a technical standpoint, the breakout action of the SOL above the falling trendline resistance coincides with a bullish cross between its two key moving averages: the 20-day EMA and the 50-day EMA.
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