Real Vision CEO and former Goldman Sachs executive Raoul Pal predicts that one of Solana’s rivals is on the verge of entering a period of rapid growth after surpassing a critical resistance level. Pal, who has 1.1 million followers on the social media platform X, believes that Sui (SUI), a layer one blockchain, is poised for a breakout rally after surpassing its previous all-time high near $5.
“SUI is pushing against the ceiling… once it breaks through, it will enter a period of rapid growth.”
Since Pal made this statement, SUI has experienced a rally and is currently trading at $5.28 at the time of writing. Pal also expresses bullish sentiment towards Solana (SOL). He shares a chart indicating that SOL has broken out of a channel, with the upper bound transitioning from a resistance level to a support level. Additionally, SOL is gradually surpassing the psychological resistance at its all-time highs.
“The long-term SOL chart is extremely bullish…”
As of now, SOL is trading at $215. Pal has previously stated that he believes SUI will outperform Solana in this market cycle. In an interview with Kevin Follonier on the When Shift Happens podcast, Pal explains that he supports SUI because he believes it has the highest chance of success.
“I believe [Solana] will do well, as I see nothing but success for that blockchain and positive vibes. However, the question is whether the ‘next chosen one’ will outperform it to such a degree that you are forced to make that riskier trade. So I wouldn’t recommend people go all-in on that bet.
For me, it’s SUI, not just because I am involved with the foundation, but because I could have talked about it for a long time as a foundation member, but I waited until I saw confirmation through price action. This confirmation came in the form of general outperformance against Solana, ETH, Bitcoin, and the breakout of every single token.
At that point, I felt confident enough to say, ‘Listen, this may be the chosen one.'”
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