In a latest X post, Raoul Paul, the CEO of Real Vision shared a bullish forecast on SOL as he shared to his followers that “The long-term SOL chart is stupid bullish.”
Pal highlighted a strong resistance level that has limited Solana’s (SOL) rally for over four years. Notably, in order to surge, SOL needs to stay above its November 2021 high of $250. Pal’s followers agreed with his analysis and identified the next Fibonacci level (1.618) as a potential target for SOL. To reach this milestone, the SOL price has to touch $410.
Also, recently, prominent on chain analyst Ali Martinez took to X to share that “there’s a chance SOL is forming a cup-and-handle pattern, and it will reach $4,000!”
However, critics warn Solana (SOL) holders of potential selling pressure due to large-scale token unlocks expected in Q1 2025. Meanwhile, Real Vision CEO highlighted Sui (SUI) as a strong altcoin pick, noting its potential after breaking the $4.88 resistance. On January 4, 2025, SUI hit a new all-time high of $5.22, with its trading volume nearly tripling to $2.45 billion in just 24 hours.
SOL ETF Soon?
Besides, the speculations over a potential SOL ETF are heating up. The odds of a Solana ETF listing in the United States this year are even higher than a Polymarket’ forecast, according to Matthew Sigel, VanEck’s head of research. While prediction platform Polymarket said the odds of a US Solana ETF listing in 2025 are around 77%, Sigel described Polymarket’s forecast as “underpriced” in an X post.
Industry analysts see Trump’s presidential win as a green light for more than half a dozen proposed crypto ETFs waiting on regulatory approval to list in the US. Shortly after Trump’s victory in the US presidential race, Sigel reportedly noted that the odds of the US greenlighting a SOL ETF in 2025 are now “overwhelmingly high.”
