Real Vision CEO and former Goldman Sachs executive Raoul Pal says one Solana (SOL) rival is about to enter “hyperspace” after cracking a critical resistance.
Pal tells his 1.1 million followers on the social media platform X that layer one blockchain Sui (SUI) is set for breakout rallies after shattering through its all-time high near the $5 level.
“SUI pressing its nose against the ceiling… after this, it should go into hyperspace.”
Since Pal’s post, SUI has rallied and is trading at $5.28 at time of writing.
Looking at Solana, the investor says he’s also bullish on SOL. He shares a chart suggesting that SOL has broken out of a channel, flipped the upper bound from resistance to support and is now creeping up through the psychological resistance at all-time highs.
“The long-term SOL chart is stupid bullish…”
At time of writing, SOL is trading at $215.
Pal has previously called for SUI to act as a “chosen one” in this market cycle and outrun Solana.
In an interview with Kevin Follonier on the When Shift Happens podcast, Pal said he was convinced to get behind the project under the belief that if anything was going to have a chance of succeeding, it would be SUI.
“I’m sure [Solana] will do absolutely fine, I see nothing but success going on in that chain and positive vibes. The question is, is whether the ‘next chosen one’ outperforms it so significantly that you’re forced to take that trade, which is much riskier. So it’s not the bet that I would ask people to do full-size.
For me, it’s SUI, and it’s not because I’m on the foundation, but it’s because – I could’ve been talking about this forever because I was on the foundation but I didn’t. I waited till I saw the confirmation price action, which is this general outperformance started versus Solana, ETH, Bitcoin, and then every single token started breaking out.
At that point, I felt comfortable saying, ‘Listen, this may be the chosen one.’”
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