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Is Solana poised to regain competitive edge as markets digest Trump's push to replace Fed Chair Powell?
Solana extends its rally above $140 as Bitcoin and altcoins regain strength on Monday.
US President Donald Trump's direct attack on Fed Chair Jerome Powell was interpreted as threatening the central bank's independence.
SOL holds 50-day EMA support amid an ascending RSI and a MACD buy signal.
Solana (SOL) price moves higher during the early European session on Monday, with its value growing by more than 2% in the day to exchange hands at $140 at the time of writing. The smart contracts token defied overhead pressure during last week's trading, edging higher than its altcoin peers, including Ethereum (ETH), Ripple (XRP) and Cardano (ADA).
This widespread bullish outlook in the cryptocurrency market comes amid fresh tensions in the United States (US) after President Donald Trump threatened to shake up the Federal Reserve (Fed), a move perceived as a direct attack on the central bank’s independence.
Bitcoin (BTC) responded positively, crossing above $87,000 and increasing the probability of tagging $90,000 in the coming days. The total crypto market capitalization also recovered to $2.845 trillion at the time of writing from $2.756 trillion on Friday, suggesting that risk-on sentiment is gradually returning.
#SOL