This Move May Make Solana the Third-Largest Crypto, Flipping USDT: Here’s When it Could Happen

The post This Move May Make Solana the Third-Largest Crypto, Flipping USDT: Here’s When it Could Happen appeared first on Coinpedia Fintech News

The crypto markets remained largely silent throughout the weekend, with the price trading within a narrow trend. In the meantime, the sleeping giant, Solana, surged beyond 12% and cleared the upper crucial resistance zone. With a bullish start for the week, the SOL price gained a new milestone above $200 and is flashing huge signals of achieving a new ATH in the coming days. 

The weekly chart of the SOL price displays a rise above the crucial resistance between $175 and $196, which paved the way to reaching $200. Now the bulls need to maintain a healthy upswing and clear the immediate higher resistance at $218 in the coming days. This may validate the bullish dominance, bearing the bearish pressures interrupting in between. 

Looking at the technicals, the RSI that entered the bullish range in November 2023, continues to trade within the range. Besides, the DMI converges a little while both levels trade parallel to each other, suggesting there could be more room for +Di & -Di to go bullish. Hence, the SOL price marking new highs above $300 appears to be pre-programmed, which could happen anywhere around the Bitcoin halving. 

Besides, the Solana-based memecoins are receiving mixed responses as dogwifhat (WIF) soars above 25% and Bonk (BONK) surges by nearly 10%, while BOOK OF MEME (BOME) undergoes a substantial drop of over 8% after displaying an iconic rally. However, memecoins continue to hold an upper hand with the start of a fresh week, hence, the SOL-based memecoins are expected to reclaim their dominance shortly. 

Collectively, the Solana & Solana ecosystem appears to have set a larger milestone for the ongoing bull run. Therefore, the SOL price along with the other memecoins like BONK, BOME, and WIF, may display a monstrous rally in the coming days.