BNB Chart Still Looks Healthy After New All-Time High, Solana Eyes Potential Breakout Rally

Uptober is here again, and the crypto market is looking more bullish than it has all year long. BNB has set yet another all-time high at $1,115, with gains of more than 17.5% over the last week. 

The price of BNB could still extend its gains over the next few days, as its chart is currently looking healthy and could support another rally. Meanwhile, Solana is attempting to break out of an ascending triangle pattern. If this happens, analysts have predicted that the Solana price could soar to a new ATH above $1,000.

BNB Sets New ATH, Growing Network Activity Suggests More Uptrend

Over the last two weeks, Binance Coin (BNB) has been forming one all-time high after another. With gains of over 17.5% in the last seven days, the BNB price has soared to a new all-time high of $1,115. 

The BNB price is trading just below its all-time high, with its chart still looking healthy enough to support another rally. The analyst who has been calling the BNB price rally, LordOfAlts, has explained that the altcoin still has a bull flag formation, with targets as high as $1,240. 

While congratulating diamond hands that held through the 2022 dip, LordOfAlts placed the next major target for BNB at $2,000. There are several factors behind the bullish price chart of BNB, including the increasing treasury buys. 

The strong institutional demand from the likes of Kazakhstan’s Ministry of AI, Windtree Therapeutics, and Nano Labs places BNB in a strong position to continue its rally. 

In addition, there has been a rise in network activity on the BNB Chain, following the reduction of transaction fees to an average of about $0.01-0.02. Additionally, the frenzy surrounding the Aster protocol, which has soared to a TVL of over $2.33 billion per DeFiLlama, continues to drive the BNB price higher. 

Solana (SOL) Eyes Major Breakout With Targets At $1,000

Unlike BNB, Solana’s (SOL) latest all-time high was set in January. In the last few months, the Solana price has been trading under the $250 range. Things look to change soon, with the Solana price pumping by more than 20% on the weekly timeframe. 

To support a potential rally, the SOL/ETH and SOL/BTC price charts over the last two months have been gradually recovering. This rebound, which comes after a long-term decline that had persisted since the beginning of the year, after SOL hit its ATH.

In addition to the recovery on these charts, the pseudonymous analyst, Gnarleyjs, has explained that the Solana price has been building in a four-year ascending triangle. With a breakdown expected to happen soon, the analyst expects the Solana price to rally to a new ATH above $1,000.

AltcoinGordon shares the same sentiment, saying that the road to new ATHs for Solana is very clear. He adds that the road to $1000 is even clearer.

In Summary

The price chart of Binance Coin remains healthy, and it has made new highs supported by its strong fundamentals and confidence in the market. Meanwhile, Solana is preparing for a possible breakout rally that will accelerate the crypto market. Traders need to observe these tokens closely in the next few weeks for those interested in cashing in on these bullish setups.