Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Raoul Pal, the co-founder and Chief Executive Officer (CEO) of Real Vision, a financial media platform, has indicated that Solana is on the brink of reversing its bearish trends. The financial expert has predicted a \u201cmagnificent autumn rally\u201d for the cryptocurrency in this market cycle.\u00a0 Solana To Witness Major Autumn Rally Solana\u2019s recent downward trend could potentially signal a great buying opportunity for investors who remain optimistic about the cryptocurrency\u2019s future outlook. Being a popular supporter and long-term investor of Solana, Pal has expressed confidence in the cryptocurrency\u2019s ability to witness a major price increase soon.\u00a0\u00a0 Related Reading: Bitcoin Price Drops Below Critical Support Level Following Rejection At $70,000 In an X (formerly Twitter) post on June 18, Pal highlighted Solana\u2019s present market dynamics, sharing a detailed price chart of the cryptocurrency, depicting its price movements from July 2023 to July 2024. The analyst described Solana\u2019s price actions as a \u201cbanana\u201d that was slowly \u201cripening,\u201d emphasizing the cryptocurrency\u2019s steady rise to peak value. He also underscored the cryptocurrency\u2019s significant growth potential and performance amidst market downtrends, highlighting Solana\u2019s ability to witness a \u201cmagnificent\u201d rally in the upcoming autumn season. In this context, the autumn season signifies a cryptocurrency season characterized by a surge in market capitalization followed by initial signs of market weakness, as investors take profits and volatility increases. Typically, crypto autumn precedes the winter season which is the harshest period in the market where bears attack and cryptocurrency prices fall dramatically. Pal has suggested that investors who wish to add more SOL to their existing holdings can do so during this period to take advantage of potential buying opportunities.\u00a0 He portrayed Solana\u2019s present price as a prime entry point for crypto investors to position themselves before an impending rally. However, a few crypto community members expressed skepticism about Pal\u2019s predictions, including crypto analyst, Jerry Jordan who queried about the timeline for this projected \u201cbanana season.\u201d\u00a0 Responding to Jordan\u2019s comment, Pal acknowledged that while a banana season for Solana was inevitable, ongoing market volatility makes the timeline for its projected surge uncertain. He emphasized that Solana will need to break out of its current sideways consolidation before it can witness a significant price increase.\u00a0 Sharing Pal\u2019s bullish sentiments for Solana, popular crypto analyst, Ali Martinez has disclosed a key support zone at $141 for the cryptocurrency. He revealed that Solana\u2019s TD Sequential was showing a major buy signal on its daily chart, predicting a possible rebound if the cryptocurrency holds the aforementioned support level.\u00a0 SOL Price Fundamentals Remain Strong Amidst Downturn The price of Solana has been on a major downward trend lately, recording a significant 19.84% decline since the beginning of the month. Despite the market\u2019s volatility, the price of Solana has continued to maintain a value above $135, underscoring its strong price fundamentals amidst wavering market conditions.\u00a0 Related Reading: Shiba Inu To The Moon: Analyst Predicts A Run Above $0.00015 If This Happens According to CoinMarketCap data, Solana is trading at $139.78, reflecting a 0.31% surge in the last 24 hours. The cryptocurrency is steadily pushing toward the $150 threshold despite witnessing an 8.44% decline over the past seven days.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":625465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,89406,86420,83626,89405,85361,86410,83627],"class_list":["post-625439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\n
Is Solana A Good Buy? Finance CEO Predicts \u2018Magnificent\u2019 Autumn Rally<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n