Solana has attracted attention with its performance in the crypto market this year. Especially the Solana-based meme coin wind was effective in this performance. However, in the recent market downturn, SOL has also lost significant altitude. Despite this, macro guru and former Goldman Sachs executive Raoul Pal maintains his position in Solana. Pal announced that he is heavily invested in the altcoin project.

Macro Guru 80% of my portfolio is Solana!

Cryptocoin.comRaoul Pal has said many times that he liked and invested in Solana. Moreover, he said this when SOL was around $20. Pal explained on the Bankless YouTube channel that Solana’s (SOL) native token makes up about four-fifths of his crypto holdings. The rest is in meme coins, digital collectibles and a digital asset-oriented investment vehicle, Pal said. In this context, Pal made the following statement:

I am 80% SOL. All of my ETH are now NFTs (Non-Fungible Token), I buy high-end art NFTs. Then I have part of my portfolio in the hedge fund fund at Exponential Age Asset Management. And I have 1% in stupid things like dogwifhat, Dogecoin and Bonk. I bought them all. But that 1%… just to be clear, I have 1% of my portfolio in all the meme coins and everything else. I’m 80% Solana.

Why is Raoul Pal betting on Solana?

The former Goldman Sachs executive also explains what convinced him to bet heavily on Solana. The Macro Guru has this to say about it:

The chart that stood out in 2022 was the Solana/Ethereum chart. This chart led me to buy Solana and then go all in. Just like I got into Ethereum in September 2020. I did it earlier in Solana.

Altcoin bulls are now looking hopefully to this next support

Solana has had a bumpy ride recently amid a broader market downturn. However, analysts are keeping a close eye on a potential selling opportunity that could arise if the weak uptrend does not continue. Crypto analyst Maximilian_FX suggested that SOL/USDT may be ripe for a selling opportunity as it tests the bearish channel around $140.00. According to the analyst, the target for this potential decline is $124.60. Accordingly, the analyst has the following to say for the altcoin:

Overall, SOL/USDT is seeing a weak rebound in the bearish trend. In this scenario, we can consider a selling opportunity as it completed the test of the bearish channel around the 140.00 mark. The target for this decline is at 124.60.

Source: Maximilian_FX

The opinions and forecasts in this article are those of experts and analysts and are not investment advice. We strongly recommend that you do your own research before investing.