Solana's price experienced a notable increase following the announcement of its collaboration with Visa Inc., a multinational company operating in the financial and electronic payment industry. Visa is one of the major payment networks globally, primarily facilitating electronic financial transactions, including credit and debit card transactions. The company serves as an intermediary between cardholders, card issuers (usually banks), and merchants in the payment process.
This collaboration resulted in a price surge for Solana, with a gain of +7.25%, reaching a peak price of $20.6 on September 5, 2023. However, since then, Solana's price has retreated and has been trading within a sideways range between $19 and $20. Currently, there are indications that Solana may continue to experience a decline, especially from a technical perspective, as the price is below a crucial support level at $20.
Predictions suggest that Solana could decline to $18.46 in the coming days. This reflects the volatility in the crypto market, and investing in cryptocurrencies always carries risks. It is essential to continuously monitor price movements and conduct thorough analysis before making investment decisions.
Trade closed: target reached