Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The crypto market is rallying 6.8% following the US presidential elections, which made Bitcoin soar to a new all-time high (ATH). As a result, most of the market saw a green daily close, with Solana (SOL) recording a 15.8% surge in the last 24 hours and regaining a key support level. Related Reading: Shiba Inu (SHIB) Gearing Up For Massive Bullish Wave Following 8% Daily Surge, 110% Rally Ahead? Solana Dethrones BNB As 4th Largest Crypto The result of the US elections gave the crypto market the long-awaited boost many investors and market watchers expected. In the early hours of Wednesday, the largest cryptocurrency by market capitalization surged about 8.6% toward its new ATH of $75,358. This surge, fueled by the victory of pro-crypto Republican candidate Donald Trump and a mostly crypto-friendly Congress over US Vice President Kamala Harris, ignited a bullish rally across the market. Solana followed BTC\u2019s lead and jumped over 15% to turn the $180 level into support. Moreover, the cryptocurrency reached its highest price since July, nearing the $190 resistance level. SOL\u2019s daily activity skyrocketed in the last 24 hours, rising 210% to a $10.7 billion daily trading volume. Meanwhile, the cryptocurrency saw a 14.66% increase in market capitalization, surging to an $88.1 billion market cap. As a result, Solana flipped Binance Coin (BNB)\u2019s $85 billion market cap, dethroning BNB as the fourth largest cryptocurrency by this metric. This performance fueled investors\u2019 bullish sentiment on the cryptocurrency, with some market watchers predicting a bullish wave towards Q1\u2019s highs. Is SOL Getting Ready For $400? Solana was deemed one of the strongest cryptocurrencies during Q3\u2019s market retraces, holding above its breakout levels while most altcoins struggled. Following last night\u2019s performance, crypto Trader Koz called SOL\u2019s chart \u201cone of the absolute best-looking charts out there.\u201d The cryptocurrency\u2019s surge above the $180 mark represents a breakout from an 8-month consolidation range that started after Solana hit its yearly high of $202. Similarly, World of Charts considers SOL as \u2018looking more bullish than before.\u201d The analyst noted that the cryptocurrency finally broke above the upper line of a bullish flag pattern after nearly breaking above it in late October. World of Charts suggested that after the successful breakout, a massive bullish wave is around the corner. To the analyst, this wave could ultimately send Solana\u2019s price toward a new ATH of $400. Moreover, crypto analyst Jelle highlighted the breakout, stating that SOL is ready to retest the yearly highs. Related Reading: PolitiFi Memecoins Soar: Trump-Themed Tokens Rally 30% Ahead Of US Elections A reclaim of the $200 mark, not seen since March, could propel the cryptocurrency above its ATH of $260 in the coming weeks. However, it is key that Solana holds the $180 mark to continue its bullish ascend, as a rejection from this zone could see SOL\u2019s price pullback to the $160 support. SOL trades at $186.9, a 4.12% and 27.56% increase in the weekly and monthly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":639630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[9695,86864,428,1119,93301,89564,10923,89756,12837,83626,92708,83627,4313],"class_list":["post-651904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1620-solutions","tag-binance-coin-bnb","tag-bitcoin","tag-btc","tag-btc-ath","tag-crypto-bull-market","tag-crypto-market","tag-crypto-trader","tag-sol","tag-solana","tag-solana-bullish","tag-solusdt","tag-us-elections"],"acf":[],"yoast_head":"\n
Solana (SOL) Looks \u2018More Bullish Than Before\u2019 After Flipping BNB<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n