Solana Price Down By 11.61% – Time to Buy SOL Coin?
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- The entire crypto market has seen a decrease of up to 7.68%, with a market cap of $2.06 trillion and poses a great opportunity to buy SOL
- Solana is on a decline and has hit a low of $149
- Solana gears for new resistance and support prices as fundamental advancements are underway
The Solana utility token is taking a roll down the hill as the digital asset trades within the $148 to $179 price range which is a good entry point for investors looking to buy SOL. The coin’s price dropped to a lower price peg of $165 yesterday and looked to be on a decline to stabilise and establish a support price before moving on to catch up with the bulls.
Solana’s decline in price is in conjunction with the bearish outlook of the entire crypto market, as the global market cap value is at $2.06 trillion, which is a 7.68% decrease in the last 24 hours.
The asset is a highly scalable blockchain that addresses the speed and high transaction fees associated with the Ethereum blockchain. Since the launch of the Ethereum competitor in 2020, the crypto asset SOL has gained widespread adoption and has made impressive gains due to the ever-evolving blockchain and fundamental improvements.
Wasder Pioneers Social Gaming Microverse on Solana
New crypto enthusiasts might want to buy SOL as a startup investment as its value has the potential to skyrocket in the next few weeks. The blockchain is establishing deep roots in the gaming industry as Wasder, a social community platform for gamers, launched Solana’s first social gaming microverse.
The microverse is a modern social gaming platform for new generation gamers to explore and immerse themselves in their favourite games and metaverses.
The platform has a unique package known as the Game of Wasder, a third interaction layer that allows users to interact with brands and earn rewards.
The Game of Wasder is an all-inclusive blockchain game that allows players to interact with four different metaverses, showcasing achievements, loot, rewards and gains from every metaverse they’ve played in.
Interactions and payments on the Wasder Microverse will require many Solana tokens, which increases the demand for SOL and motivates more investors to buy SOL, thereby causing the price to skyrocket.
Visa Onboards Solana, Zebec to Its Fintech Fast Track Program
Zebec, a continuous settlement protocol on the Solana blockchain, has been onboarded on Fintech giant VISA to help fast track payments.
The protocol introduces a programmable and continuous money stream on the Visa platform, making it simple for Visa users to send and receive cash payments.
The first application of the protocol is Zebec Pay, a tax-compliant and On-chain payroll processing system that enables employees to be paid in seconds in USDC or other stablecoins.
This integration aims to build a new outlook on financial transactions like payrolls, investments, subscriptions and rewards by making it programmable and continuous.
The fast track program will enable Visa to provide growing companies with the resources to scale efficiently. Zebec will also enjoy unprecedented access to Visa experts, technology and resources. This integration guarantees the upscale of Solana value in the market, a confidence booster for investors to buy SOL.
Solana Technical Analysis
Solana attempted to push past the resistance price of $259 but failed and is currently on a downward trend below $165. The crypto asset is trading below the 23.6% Fibonacci retracement value of $241 as SOL makes price corrections before embarking on an upscale.
The digital asset is also currently below the 61.8% Fibonacci retracement level as the current price is on a downward spiral below the $172.98 price peg.
The Solana utility token is below the 100-hourly Simple Moving Average (SMA) of $190.73, and Moving Average Exponential (EMA) shows the asset hugging bears at $183.83.
Solana presents a strong buying potential as current prices and technical indicators depict a great entry point for investors to buy SOL.
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