In a notable development for the cryptocurrency landscape, analysts suggest that Solana’s price may rally to the $77 level if a TD Sequential buy signal is confirmed. This comes amid a significant partnership between the World Series of Poker (WSOP) and Solana, which will introduce Solana payments for tournament buy-ins. This initiative, powered by MoonPay, is set to begin at the upcoming WSOP in Las Vegas and boasts the advantage of zero processing fees for players.
WSOP CEO Ty Stewart emphasized the collaboration as a strategic move to modernize the payment system and enhance the overall consumer experience for poker enthusiasts. By incorporating Solana as a payment option, the WSOP intends to minimize payment friction for international participants, thus presenting Solana to an expansive, global audience of poker players.
Additionally, the forthcoming WSOP event in Paradise, Bahamas, is expected to allow tournament winners the option of receiving payouts in stablecoin on the Solana blockchain, showcasing the versatility of Solana’s payment capabilities.
Despite the promising partnership with the WSOP, Solana’s price is contending with downward pressure, hovering around $64.67 and falling short of key technical thresholds. The cryptocurrency is currently situated within its Bollinger Bands, with the upper boundary marked at $67.88 and the 50-day exponential moving average (EMA) at approximately $68.26. Further complicating Solana’s recovery, the 200-day EMA stands at $78.19, representing a critical resistance level that coincides with the broader resistance area around $77.
Indicators reveal mixed signals: although the MACD golden cross suggests a possible momentum recovery, the relative strength index (RSI) remains near 44, indicating that buyers have not yet fully seized control of the market. Analysts note a potential test of lower support at $63.31, which could precede any meaningful price action. If this support remains intact, there is a possibility for Solana to ascend toward $72 and subsequently $77.
In parallel to these payment advancements, Kalshi has introduced SOL perpetual contracts, contributing to the expanding landscape of regulated crypto derivatives in the United States. These contracts afford traders the opportunity to track SOL’s price movements without a set expiration date, potentially attracting institutional interest, though they carry risks particularly during volatile market periods.
One analyst highlighted the TD Sequential buy signal observed on Solana’s three-day chart, suggesting there may be a reduction in selling pressure. If this signal is confirmed, it could incentivize a price increase toward the $77 threshold; nevertheless, a breach of the $60 support level would undermine any bullish aspirations.
