- Solana hits five-month high, BNB jumps to December 2024 peak — fueled by crypto hype, blockchain growth, and technical breakouts.
- ‘Crypto Week’ ignites record 340 million blockchain transactions, Solana and BNB Chain take the lead.
- Solana ETF buzz boosts SOL/USD, while rising Open Interest backs BNB/USD bulls.
- Bullish momentum builds in SOL and BNB after key breakouts, though RSI warns of near-term consolidation.
Altcoin momentum stays hot as ‘Crypto Week’ vibes carry on, boosted by U.S. regulatory breakthroughs and record-breaking blockchain activity. Solana (SOL/USD) surged 5% to $190, nearing its mid-February high, while Binance Coin (BNB/USD) rallied to its strongest since December 2024.
Traders celebrated President Trump’s signing of the historic GENIUS Bill—marking the world’s first official stablecoin law—which sent total crypto market cap soaring past $4.0 trillion and pushed blockchain and Layer-2 transactions to fresh all-time highs.
The blockchain space logged over 340 million transactions in a single week, with Solana dominating at 59.46%, followed by BNB Chain at 18.76% and Tron at 4.68%, per Dune Analytics.
SOL also gained on ETF optimism, as the REX Osprey Solana ETF saw $222M in trading volume and $69.7M net inflows since its July 2 launch—despite a 0.75% fee.
Meanwhile, BNB’s market cap topped $103B as Open Interest (OI) hit a yearly high of $1.05B, signaling strong demand, per CoinGlass data. BNB Chain’s weekly DEX volume also spiked above $45B, consistently staying over $40B for five weeks—outpacing even Ethereum and Solana.
Technical Analysis
Solana (SOL/USD) remains supported after a clear breakout above descending resistance lines from January and February, and sustained trading above the 200-day Simple Moving Average (SMA). Bullish Moving Average Convergence Divergence (MACD) signals keep buyers hopeful, though the 14-day Relative Strength Index (RSI) in overbought territory suggests a possible short-term pullback.
Binance Coin (BNB/USD) breaks above the 200-day SMA and a key descending resistance line from December 2024, with bullish MACD signals supporting further upside. However, the 14-day RSI is in overbought territory, making the record high near $795.00, marked late 2024, a critical level to watch.
SOL/USD: Daily Chart Signals Further Upside
Immediate resistance levels are seen at the psychological $200.00 mark, February 10 swing high near $208.00, and the 61.8% Fibonacci retracement of the January–April decline around $220.00.
Beyond that, multi-top resistance around $272–$273 and the January record high near $295.00 point to the $300.00 threshold.
On the downside, pullbacks may find support near the five-month-old previous resistance-turned-support around $170.00, followed by the 200-day SMA at $163.00 and the January resistance zone near $133.00.
BNB/USD: Daily Chart Points to Limited Upside Room
BNB/USD’s daily RSI shows it’s more overheated than SOL/USD, suggesting limited room for further gains and increasing the chance of a pullback before the next rally.
The record high at $795.00 and the psychological $800.00 level are critical resistance points.
If buyers push beyond $800.00, attention shifts to the upward-sloping resistance line from June 2024 near $885.00, followed by the key $900.00 round number.
On the downside, pullbacks may meet selling pressure at January and February tops around $745.50 and $732.50, before testing the previous resistance line from December near $675.00.
Important support levels include the 200-day SMA at $641.00 and an ascending trendline from April near $632.00, which act as the final defense for BNB bulls.
Conclusion
Altcoin momentum remains strong, fueled by record blockchain activity and groundbreaking U.S. crypto regulations like the GENIUS Bill. Solana and Binance Coin lead the charge, hitting key highs backed by solid technical setups and growing investor interest. While short-term pullbacks may occur due to overbought signals, both coins show clear paths for further gains, with crucial resistance and support levels guiding traders. As blockchain adoption and market enthusiasm continue to build, Solana and BNB stand well-positioned for a promising rally ahead.
