{"id":651904,"date":"2024-11-07T03:30:08","date_gmt":"2024-11-07T03:30:08","guid":{"rendered":"https:\/\/wncen.com\/?p=651904"},"modified":"2024-11-06T15:21:41","modified_gmt":"2024-11-06T15:21:41","slug":"solana-sol-looks-more-bullish-than-before-after-flipping-bnb-as-4th-largest-crypto","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana-sol-looks-more-bullish-than-before-after-flipping-bnb-as-4th-largest-crypto\/","title":{"rendered":"Solana (SOL) Looks \u2018More Bullish Than Before\u2019 After Flipping BNB As 4th Largest Crypto"},"content":{"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.<\/p>\n

Related Reading: Shiba Inu (SHIB) Gearing Up For Massive Bullish Wave Following 8% Daily Surge, 110% Rally Ahead?<\/a><\/div>\n

Solana Dethrones BNB As 4th Largest Crypto<\/h2>\n

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<\/a> about 8.6% toward its new ATH of $75,358.<\/p>\n

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.<\/p>\n

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.<\/p>\n

SOL\u2019s daily activity skyrocketed<\/a> 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.<\/p>\n

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.<\/p>\n

Is SOL Getting Ready For $400?<\/h2>\n

Solana was deemed<\/a> 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<\/p>\n

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<\/p>\n

\"solana\"
SOL breaks above the downtrend line. Source: TraderKoz on X<\/a><\/figcaption><\/figure>\n

The analyst noted<\/a> 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.<\/p>\n

To the analyst, this wave could ultimately send Solana\u2019s price toward a new ATH of $400. Moreover, crypto analyst Jelle highlighted<\/a> the breakout, stating that SOL is ready to retest the yearly highs.<\/p>\n

Related Reading: PolitiFi Memecoins Soar: Trump-Themed Tokens Rally 30% Ahead Of US Elections<\/a><\/div>\n

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.<\/p>\n

SOL trades at $186.9, a 4.12% and 27.56% increase in the weekly and monthly timeframes.<\/p>\n

\"SOL,
Solana’s performance in the weekly chart. Source: SOLUSDT on TradingView<\/a><\/figcaption><\/figure>\n
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":"\nSolana (SOL) Looks \u2018More Bullish Than Before\u2019 After Flipping BNB<\/title>\n<meta name=\"description\" content=\"Amid the market\u2019s bullish sentiment, Solana (SOL) became the 4th largest 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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