A popular market expert, Raoul Pal, has put forward his analysis of an Ethereum (ETH) competitor expected to outperform other cryptocurrencies in the upcoming bull market.
During a Q-n-A session, Raoul, a Macro expert, and former Goldman Sachs executive claimed that a few Ethereum competitors are expected to make the most of the next bull run amidst increased crypto adoption.
The analyst, who has 48.4K Youtube subscribers, asserts that ETH competitors such as Solana, Avalanche and others will benefit the most. As per Pal, initially, Ethereum will lead the altcoin market and then its competitors will take over.
He adds that most layer-1 blockchains will follow Ethereum’s actions of 2020 and 2021, which will push them to become one of the most prominent chains. He also says that among many other Ethereum competitors, Solana will be the most exciting to watch.
The former executive further says he is closely watching the Solana and Ethereum pair (SOL/ETH) as he believes this pair will form a bullish momentum.
He then talks about the DeMark indicator which points towards the directional trend of a currency by comparing the maximum and minimum price to that of earlier cycles. He says that this indicator is displaying bullish signals for SOL/ETH.
He explains that this doesn’t mean that Solana will be bigger than Ethereum, it just means that SOL might outperform Ethereum in this particular cycle.
At the time of publication, Ethereum is selling at $1,360 with a surge of 4.17% over the last 24hrs and Solana is trading at $32.39 after an upward movement of 3.90% over the last 24hrs.