Raoul Pal, the CEO of Real Vision, explains the pivotal significance of the price levels at $30 and $50 for Solana (SOL).

Solana (SOL), the cryptocurrency native to the Solana blockchain, is approaching a crucial pattern test. Should it pass, a seasoned macro investor believes it could pave the way for a 66% rally. His perspective is in line with the growing optimism surrounding Solana (SOL).

Throughout this year, Raoul Pal, the investor, has remained exceptionally optimistic about Solana (SOL)

Raoul Pal, a prominent macro investor and market commentator, has expressed unwavering optimism about Solana (SOL) throughout the entire year. In this time frame, the asset’s price has surged by 171%, and there are indications that this impressive rally has the potential to further extend.

Currently, the Solana (SOL) price is on the verge of testing a significant “Inverse Head and Shoulders” pattern.

In October 2023, both SOL/BTC and SOL/ETH charts broke free from bearish patterns nearly simultaneously. On October 20, 2023, Solana (SOL) price came within a hair’s breadth of the coveted $30 mark. As of the latest update, the asset is trading at $28.92, showing an impressive 8.2% increase over the past 24 hours.

Will Solana (SOL) make a comeback in 2024?

Solana (SOL) is poised for a bright future in the mid-term, with Q2-Q3 2024 potentially bringing substantial returns, according to Raoul Pal and echoed by experts. Solana’s rapid growth in DeFi and NFT markets is reminiscent of Ethereum’s past success, and its parallelization concept is appealing to dApps, says investor Justin Bons.