Renowned macro economist Raoul Pal, the CEO and founder of Real Vision, shares his insights on long-term cryptocurrency investments. Among his top picks, Solana (SOL) stands out as a particularly “stupid bullish” option. However, Sui (SUI) has also shown promising potential after breaking a significant resistance at $4.88.
Pal’s optimism for Solana (SOL) is based on its position as the fifth-largest cryptocurrency by market capitalization. He recently tweeted about the long-term SOL chart, stating it looks extraordinarily positive. The pivotal resistance level that has held back SOL’s growth for over four years now sits on a logarithmic scale. For Solana (SOL) to soar, it must maintain its position above the November 2021 high of over $250.
Followers and fans of Pal’s insights support his analysis, pointing out the next Fibonacci level (1.618) as a potential target for price discovery. To hit this milestone, SOL will need to reach $410.
As of now, Solana (SOL) trades around $216 on major crypto exchanges, witnessing a 1.6% price increase in the last 24 hours. Public interest in SOL has surged, partly due to the announcement of the Winternitz Vault. This innovative solution uses quantum-resistant hash functions to bolster Solana’s defenses against quantum computing threats, utilizing Winternitz One-Time Signatures (WOTS).
Alongside this, while Phantom, a major wallet for Solana, has chosen not to launch a native token, the vibrant Solana community is set for substantial Sonic (SONIC) and Jupiter (JUP) airdrops. However, it’s important for SOL holders to remain cautious, as substantial token unlocks are scheduled for Q1 2025, which could impact the supply dynamics.
Shifting the spotlight to Sui (SUI), Pal has indicated that this altcoin could also see substantial gains. After breaking the $4.88 barrier, SUI appears poised for an impressive rally. On January 4, 2025, SUI reached a new all-time high of $5.22, and its trading volume surged, nearly tripling to $2.45 billion within 24 hours.
In summary, both Solana (SOL) and Sui (SUI) represent intriguing opportunities for long-term investors. With positive market trends and community developments, these cryptocurrencies could deliver significant returns in the evolving digital landscape.
