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Solana (SOL) Poised for Upswing, According to Raoul Pal

solana sol poised for upswing according to raoul pal

A renowned macroeconomics expert and founder of Real Vision Raoul Pal, has expressed his optimism about Solana (SOL) in his most recent Global Macro Investor (GMI) newsletter .Based on a through technical analysis, Pal believes that Solana is primed for a significant ascending movement after  consolidation phase .

solana sol poised for upswing according to raoul pal 2

Solana’s Journey and Potential Reversal

Solana, that is a cryptocurrency which stood as a competitor to Ethereum experienced an abrupt decline following its peak in November 2021. Its price dropped to around $20 from nearly $260 .However Pal sees promise in Solana’s current consolidation phase . He highlights its successful breakout of the inverse head and shoulders pattern , signaling a possible trend reversal .

Global Equity Insights

Market analyst Raoul Pal shares insights on global equities in his latest newsletter, which suggests a bullish outlook for these stocks . Specifically Pal notes that if the All Country World Index successfully breaks a key resistance level, global equities could soar to new highs .

The ACWI Index functions as a measure of the performance of large and mid-cap stocks in both developed and emerging markets . Pal draws attention to the correlation between global stocks and the US Dollar Index (DXY) ,and further emphasizing the formation of a significant bottom resembling a head and shoulders pattern . He expects a potential breakout with a small bullish pennant formation on the right shoulder acting as a catalyst . Should the index surpass 94, it could pave the way for new record levels .

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