Raoul Pal, the founder of Real Vision and one of the most frequent crypto commentators, believes that SOL, the native currency of Solana, a smart contract platform, has “been extremely bullish all year”. He further states that the coin will likely double in the next few sessions, especially if there is a welcomed breakout above the immediate liquidation level.

The X on October 2023 saw SOL up by 171% since January 2023. The immediate resistance level for traders to watch is $30, which marks a critical level of liquidation per the “big inverse head and shoulders” pattern on the daily chart. This pattern indicates that the bears are slowing down and an uptrend is possible. It forms when the prices reach three lows with the middle one (the head) lower than the two other lows (shoulders).

The neckline of the price chart is $30, making it a psychological barrier that buyers haven’t been able to break since it first appeared in July 2023. This marks Solana’s highest price this year.

Pal is bullish on Solana and believes that the uptrend is valid when there