- Bitcoin soars post-election; crypto markets rally in Moonvember’s bullish momentum.
- Altcoins like Ethereum, Solana surge, breaking consolidation.
While “Uptober” fell short of expectations, November—humorously dubbed “Moonvember”—is keeping the bullish momentum alive. The recent U.S. election, where pro-crypto Donald Trump was re-elected, has spurred a significant impact across sectors, including cryptocurrency. Bitcoin, the largest cryptocurrency, hit a new all-time high, surging above $76,000 just hours ago. It’s currently trading at $74,882, up a modest 0.45% over the past 24 hours and 4% over the past week. This bullish wave has also reignited interest in altcoins.
Ethereum, often considered the leader among altcoins, saw a strong rise, climbing 10% in the past 24 hours. Trading volume increased by 38%, pushing ETH to a three-month high of $2,878.75.
Solana (SOL)
Solana recorded a 3% increase in the past day, now trading at $188.90, with trading volume up by 10%. SOL reached a two-month high of $192, fluctuating between $180 and $191.79. Over the week, SOL is up 9%. The 9-day Exponential Moving Average (EMA) is at $174, and its daily Relative Strength Index (RSI) sits at a neutral 58. Analysts predict that if bullish momentum continues, SOL could reach $204, though bearish pressure might push it down to $157.
XRP (XRP)
XRP rose by 5% over the past 24 hours to $0.5574, with trading volume increasing by 36%. It reached a one-month high of $0.5739, fluctuating between $0.5274 and $0.55. Weekly gains stand at 7%. The 9-day EMA is at $0.5301, and the RSI is in an overbought position at 70. If momentum holds, XRP could climb to $0.6309, but sustained bearish trends might pull it back to $0.4858.
Chainlink (LINK)
Chainlink saw a 5% increase in the past day, trading at $12.39, with a 22% rise in trading volume. LINK reached a two-month high of $13, moving between $11.5 and $12.6. The 9-day EMA is at $12.4, with the RSI at a neutral 49. If bullish trends persist, LINK may reach $13.3, though bearish movement could see it dip to $10.2.
As the market reacts to political shifts, the crypto sector remains cautiously optimistic about further gains in Moonvember.
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