Real Vision CEO and former Goldman Sachs executive Raul Pal says one of Solana's (SOL) rivals is entering “hyperspace” after breaking through significant resistance.
Pal told his 1.1 million followers on social media platform .
“SUI is pressing its nose against the ceiling…it should go to hyperspace after this.”
Since Pal's post, SUI has risen and is trading at $5.28 at the time of writing.
Looking at Solana, investors say they are also bullish on SOL. He shares a chart suggesting that SOL has broken out of the channel, flipped the upper limit from resistance to support, and is creeping up through the psychological resistance currently at its all-time high.
“The long-term SOL chart is ridiculously bullish…”
As of this writing, SOL is trading at $215.
Pal had previously called for SUI to act as the “chosen one” in this market cycle and overtake Solana.
In an interview with Kevin Follonier on the podcast When Shift Happens, Pal said he was confident in backing the project, believing that if anything has the potential to succeed, it's SUI. He said he had.
“I'm sure [Solana] It will definitely work. I can only believe that success is happening through this chain and positive atmosphere. The question is whether the “next pick” is performing so well that you should take that riskier trade. So it's not a gamble that I ask people to produce full size.
For me it's SUI and it's not because I'm in the Foundation, but because I was in the Foundation and I could have been talking about this forever and I didn't. is. I waited until the confirming price action, i.e. the overall outperformance against Solana, ETH, and Bitcoin started, and then all the tokens started to break out.
At that point, I felt comfortable saying, 'Listen, this might be the person chosen.' ”
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