Solana

Chaos

Strong

Bitcoin

<p>The post <a href="https://coinpedia.org/news/solana-makes-a-strong-comeback-outshining-bitcoin-performance-amid-market-chaos/">Solana Makes a Strong Comeback, Outshining Bitcoin Performance Amid Market Chaos</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The week kicked off on a positive note for the market, witnessing a noteworthy upturn. Bitcoin bounced back strongly, hitting $44,780 in the last 24 hours. As a result, major altcoins, prominently Solana, have shown us a commendable surge, outperforming Bitcoin this week and surging back above $102.</p> 
<h2 class="wp-block-heading" id="h-solana-outperforming-bitcoin">Solana Outperforming Bitcoin</h2> 
<p>In a <a href="https://twitter.com/santimentfeed/status/1755422786452094994">recent report</a>, renowned blockchain analytics firm Santiment, shared intriguing insights into the cryptocurrency landscape. According to the report Solana (SOL), a well-established altcoin that has surprisingly taken the spotlight by outshining the performance of the leading cryptocurrency, Bitcoin.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> is one of the few <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#altcoins</a> outperforming <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> this week, surging back above $102. In the past 36 hours, <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> / <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is +4.5%. The outage that concerned traders Monday ended up being a local bottom, with the <a href="https://twitter.com/hashtag/FUD?src=hash&amp;ref_src=twsrc%5Etfw">#FUD</a> fueling this price rebound. <a href="https://t.co/lUC0DBS5B3">https://t.co/lUC0DBS5B3</a> <a href="https://t.co/1NTk5R4QBj">pic.twitter.com/1NTk5R4QBj</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1755422786452094994?ref_src=twsrc%5Etfw">February 8, 2024</a>
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<p>Santiment’s analysis focused on the SOL/BTC pairing, revealing a bullish trend that has broken out after a prolonged 21-month downward trajectory. This breakout holds particular significance, attributed to the substantial buying power observed over the past 36 hours registering a positive gain of +4.5%.&nbsp;</p> 
<p>The shift in market sentiment, as indicated by Santiment, has led to Solana significantly outperforming Bitcoin. Since the breakout, <a href="https://coinpedia.org/press-release/solana-bull-who-bought-sol-at-8-reveals-new-altcoin-with-similar-potential/">Solana has recorded</a> an impressive 140% gain against Bitcoin, signaling a considerable shift in favor of the altcoin.</p> 
<h2 class="wp-block-heading" id="h-solana-technical-analysis">Solana Technical Analysis</h2> 
<p>The shift in market sentiment has resulted in Solana outperforming Bitcoin significantly. Since this breakout, Solana has appreciated an impressive gain against Bitcoin.</p> 
<p>Currently, Solana (SOL) has seen a notable uptick, hovering at <a href="https://coinmarketcap.com/currencies/solana/">$101.5</a> with a 5.87% increase in the last 24 hours. This surge follows a strong breakout above the local support level of $94.92. If buyers can hold the gained throughout the day, there is a chance solana hitting $125 mark soon.</p>

Solana Makes a Strong Comeback, Outshining Bitcoin Performance Amid Market Chaos

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