Solana (SOL) is currently not in the best of shape in the crypto market. Some analysts, however, believe that this is temporary.
Raoul Pal sees Solana (SOL) reach 20 times its current price
Solana (SOL) is currently experiencing a period of mixed growth. Currently, it is worth around $22.04 on the market, up 5.58% over the past 24 hours. The performance of the asset is certainly not Olympic, but the latter could be doing much better.
It is in any case what Raoul Pal is planning. Indeed, the CEO of the firm Real Vision is particularly optimistic about the outlook around the price of crypto. The latter could, according to his forecasts, reach 20 times its current price, or around $440.
This projection seems quite surreal in the current market circumstances. If Raoul Pal believes in it, it is for certain reasons. The expert particularly notes that Solana has gained about 10% in valuation over the past week.
This rate represents approximately 43% over the last 30 days. In other words, the signals are favorable for Solana. In any case, enough, believes the analyst, for the crypto to replicate a similar dynamic achieved by Ethereum (ETH) in 2018.
After hitting its lowest level that year, the crypto had completed a surge taking it to over $4,800. This breakthrough represented just over 47 times the lowest value reached by the asset.
It’s uncertain whether Solana will perform a similar move. Raoul Pal nevertheless believes that the crypto is on the trajectory of yesteryear of ETH. A trend confirmed by its fall to $9 in 2022, its lowest level.
“Look… There is a possibility that Solana is doing what ETH did from the 2018 low, which was a 47x. Solana’s low was nine dollars, so you can do the math, the numbers are potentially very interesting,” concludes the specialist.
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