Solana price prediction: SOL flirts with $21

Solana is the best loser within the final 24 hours among the many high ten cryptocurrencies. SOL is down 4.4% throughout this time.

Solana’s volatility over the previous week has been comparatively low. The value has traded between $20 and $21 throughout this time.

SOL plunged under $20 on August 23 however rapidly bounced again as merchants took benefit of the low value to build up extra tokens.

Presently, SOL is flirting with the $21 stage. It traded at this value on August 24, however the bearish sentiment throughout the broader market has prevented the value from being sustained.

Solana’s Value Motion

Solana’s value has considerably dropped within the final two weeks. The token is down by 15% within the earlier 14 days, as promoting strain prevents substantial recoveries.

Among the best-performing days for Solana this month was August 15, when the value rallied to $25. A fast downtrend adopted when this stage was attained as weak shopping for momentum failed to carry the value.

Solana is at the moment combating resistance at $21, and if a breakout occurs, a rally to $25 may probably be on the best way. Nonetheless, falling under the essential $19 help stage will create a brand new month-to-month low under $15.

Solana Exhibits Bearish Momentum

The value indicators at the moment painting a bearish sentiment for Solana.

The Relative Energy Index (RSI) is at the moment at 38, and the motion signifies that the promoting momentum is rising. Due to this fact, Solana may probably drop to the $19 stage or under.

The chart reveals that the Parabolic SAR additionally tracks the value from above, indicating a bearish momentum.

If the development reverses, Solana should break previous the 50-day Easy Shifting Common (SMA) at $23 for a bullish development to be at play. The 100-day and 200-day SMA ranges at $21.01 and $21.36 additionally present key resistance ranges.

Shopify To Combine USDC Funds With Solana

Regardless of the weak uptrend, bullish developments are occurring throughout the Solana ecosystem. The numerous development is the mixing of the Solana Pay plugin with Shopify.

This integration will enable hundreds of thousands of retailers on Shopify to make use of Solana Pay to just accept crypto funds. The primary crypto asset this providing helps is the USD Coin (USDC) stablecoin.

1/ 🛍️Shopify 🤝Solana Pay

At the moment, Solana Pay integrates with @Shopify, empowering the hundreds of thousands of entrepreneurs and retailers on Shopify to just accept quick, web3 native funds with no transaction charges by way of the tip of 2023. https://t.co/q63KeBllXB

Study extra 👇 pic.twitter.com/QEb1LzqS51

— Solana (@solana) August 23, 2023

A report by TechCrunch famous that Solana Pay was planning so as to add help for extra altcoins sooner or later, together with its native SOL. In response to Josh Fried at Solana Labs, Solana Pay affords decrease transaction prices than bank cards.

The providing is already garnering curiosity. Fried says a number of crypto tasks, comparable to Helius, Mad Lads, and MonkeDAO, have agreed to combine Solana Pay into their Shopify service provider shops.

Wall Avenue Memes Presale Outperforms

The Wall Avenue Memes presale is garnering a lot curiosity after elevating greater than $25 million in just some months. The native token for the mission, WSM, is buying and selling at a presale value of $0.0337.

Wall Avenue Memes is a mission that targets a vibrant neighborhood of merchants. The mission has tokenized retail merchants’ motion in opposition to the monopoly Wall Avenue holds in opposition to monetary markets.

WSM token will maintain the expansion of the Wall Avenue Memes neighborhood whereas additionally rewarding the loyal members of the neighborhood.

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