Renowned macroeconomist and Real Vision CEO Raoul Pal is bullish on two cryptocurrencies Solana (SOL) and Sui (SUI), which he believes have good long-term prospects.
The expert believes that the fifth largest by market capitalization Solana is a "foolish bull" on a long-term time frame. In his analysis, he pointed out that SOL recently broke through a major resistance level that had been in place for over four years.
He suggests that for the upward momentum to continue, Solana needs to hold above the November 2021 high of over $250. Based on this, Pal has set a target of $410, which corresponds to the 1,618 Fibonacci level.
Price change Solana in 24 hours. Data from CoinGecko
Success Solana is backed by the announcement of a new Winternitz Vault solution that uses quantum-resistant hash functions to protect Solana from quantum computing attacks.
At the same time, Pal recalled that in the near future the proposal Solana will increase due to a large token release in the first quarter of 2025, which could create selling pressure. Despite this, he believes in future success Solana .
But Solana Pal is bullish on the relatively new cryptocurrency Sui (SUI). He noted Sui's important breakout of the $4,88 resistance level. Following this breakout, Sui's price reached a new all-time high of $5,30.
In just 24 hours, Sui's trading volume has nearly tripled to $2,45 billion, indicating market interest and potential for further growth.
Sui's momentum is expected to continue, and Pal believes that once this key resistance is broken, kriptovalyuta ready to "enter hyperspace."
