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<p>Raoul Pal, the founder of Real Vision, former Goldman Sachs executive, and macroeconomics expert, recently shared his optimism about Solana (SOL) in the latest edition of the Global Macro Investor (GMI) newsletter. Drawing on his technical analysis expertise, Pal remains convinced that Solana is on the verge of a significant uptrend.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/05/hausse-imminant-de-solana-1024x683.png" srcset="https://www.cointribune.com/app/uploads/2023/05/hausse-imminant-de-solana-1024x683.png 1024w, https://www.cointribune.com/app/uploads/2023/05/hausse-imminant-de-solana-300x200.png 300w, https://www.cointribune.com/app/uploads/2023/05/hausse-imminant-de-solana-768x512.png 768w, https://www.cointribune.com/app/uploads/2023/05/hausse-imminant-de-solana.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" class="post-cover-image--img" alt="Solana SOL's share price soars"></div><div class="my-4"></div>



<h2 id="h-the-reversal-of-solana-s-trend">The reversal of Solana’s trend</h2>



<p><a href="https://www.cointribune.com/solana-pourrait-reussir-a-surpasser-bitcoin-selon-un-trader-crypto/" target="_blank" rel="noreferrer noopener">Solana (SOL)</a>, a cryptocurrency that competes with Ethereum (ETH) and currently ranks 11th in terms of market capitalization, seems to have completed its consolidation period and is gearing up for a bullish trend.</p><div class="my-4"><div class="ads ">
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<p>Let’s go back in time to understand Solana’s evolution. In November 2021, its price reached dizzying heights, nearly touching $260, giving investors a sense of power. But since then, a steep plunge followed, causing the price of the SOL token to drop to nearly $20. In other words, a devaluation of about 92.6%. However, all hope is not lost.</p>



<p>Raoul Pal, the former Goldman Sachs executive and macroeconomics expert, remains upbeat and optimistic about Solana’s future. According to <a href="https://raoulpal.substack.com/p/the-gmi-top-5-weekly-charts-that-49c?sd=pf" target="_blank" rel="noreferrer noopener">his analysis</a>, this cryptocurrency is currently in a consolidation phase after successfully breaking out of the inverse head and shoulders pattern, signaling a trend reversal.</p>



<blockquote class="wp-block-quote">
<p>Solana looks like it’s getting ready to make its next move higher after a period of consolidation following the inverse H&amp;S breakout in April. Solana was a big bet at GMI this year and is up nearly 150% YTD…</p>
<cite>Raoul Pal</cite></blockquote>



<p>Indeed, since the start of 2023, Solana has been following a general upward trend. Its price has gone from $9.87 to $19.50 at the time of writing this article, representing a growth of approximately 120%.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="523" src="https://www.cointribune.com/app/uploads/2023/05/cours-solana-1024x523.png" alt="" class="wp-image-603630" srcset="https://www.cointribune.com/app/uploads/2023/05/cours-solana-1024x523.png 1024w, https://www.cointribune.com/app/uploads/2023/05/cours-solana-300x153.png 300w, https://www.cointribune.com/app/uploads/2023/05/cours-solana-768x392.png 768w, https://www.cointribune.com/app/uploads/2023/05/cours-solana-1536x785.png 1536w, https://www.cointribune.com/app/uploads/2023/05/cours-solana-2048x1046.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px"><figcaption class="wp-element-caption">Solana price chart. Source: Raoul Pal/Global Macro Investor</figcaption></figure>



<h2 id="predictions-on-global-stocks">Predictions on global stocks</h2>



<p>In addition to Solana, Raoul Pal also discusses global stocks in his newsletter. According to him, these stocks appear ready for a rebound, forming a bullish pattern.</p>



<p>In particular, if the All Country World Index (ACWI) manages to break through a key resistance level, global stocks could reach new highs. The ACWI index measures the performance of large and mid-cap stocks in developed and emerging markets.</p>



<blockquote class="wp-block-quote">
<p>Global equities just look like the mirror image of the DXY and appear to be forming a large head-and-shoulders bottom. We’re very close to a potential breakout now and the small bullish pennate that has formed on the right shoulder looks like just the boost needed to get us over the line. If we break 94, the measured move is new highs…</p>
<cite>Raoul Pal</cite></blockquote>



<p>However, it is important to note that these statements do not constitute investment advice in any way. It is crucial to conduct your own thorough research before venturing into the world of cryptocurrencies. Before acquiring your first cryptos, take the time to educate yourself, <a href="https://www.cointribune.com/analyse-technique-du-24-mai-le-bitcoin-btc-pourrait-descendre-a-25-000-dollars/" target="_blank" rel="noreferrer noopener">analyze trends</a>. And understand the potential risks associated with them.</p>

Solana (SOL) ready to initiate a new rally, according to Raoul Pal

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