Solana (SOL) Price Prediction: Will SOL Price Break $180 After Partnership With Selecta?

Solana price embarked on a recovery journey after the massive drop in value to $110 last week. This price action led to a modest rally, which tested the $164 level after taking out resistance at $140 and $150, respectively.

Solana price showed signs of recovery after a massive drop to $110 last week, attempting to climb back up. However, a glance at a 15-minute chart revealed a different story.

After testing the $164 resistance level, Solana price faced another minor crash as the token price quickly dropped to retest the $140 support. This move was triggered by fears of a recession in the US, leading to another round of disgruntlement among traders.

Being a competitive smart contracts token, Solana price showed resilience despite the market fears. At the time of writing, SOL was trading at $144 during US business hours on Wednesday.

However, the cryptocurrency market showed high volatility as the release of the Consumer Price Index (CPI) data was expected to largely impact the price movements.

Solana price showed a promising trend as the token price soared after each resistance level was broken. This move was highlighted by Solana's recent partnership with Selecta to enable USDC payments for snacks, drinks in France.

Being a fast-food technology company, Selecta aimed to revolutionize crypto payments in Europe. Roland Ludwig, Selecta's CTO and COO, shared his thoughts on the partnership.

“This was the first time crypto payments didn’t feel like a Rube Goldberg machine. Payments on Solana were as fast as any other method while being cheaper for us to process. Great product for everyone!”

This development boded well for Solana price prospects, especially considering the poor performance earlier this year. Today, Selecta has activated six smart fridges in Paris for consumers to buy snacks, drinks with USDC on Solana.

When asked about the initiative, Selecta CTO & COO Roland Ludwig shared his experience.

“For me, this was the first…

Solana price prediction showed the token was set for a potential upswing towards $180, backed by a strong technical setup and growing adoption. However, being cryptocurrency, the market was inherently volatile, advising traders to trade carefully.

Placing a stop-loss below the $140 level was key to maintaining a safety net. Solana has formed a compelling bullish fractal, hinting at a potential upswing towards the $180 resistance zone.

A bullish fractal forms after a downtrend, showing a lower low followed by two higher lows.

The above is the detailed content of Solana (SOL) Price Prediction: Will SOL Price Break $180 After Partnership With Selecta?. For more information, please follow other related articles on the PHP Chinese website!