Solana’s price could test the $77 level if a TD Sequential buy signal confirms, according to analyst Ali Martinez. The World Series of Poker (WSOP) is set to support Solana payments for tournament buy-ins, marking a significant real-world use case for the blockchain technology. This integration will commence at the WSOP in Las Vegas through MoonPay, with players incurring no processing fees.
The partnership aims to modernize payment systems and enhance the consumer experience for players, as noted by WSOP CEO Ty Stewart. By enabling Solana payments, the WSOP will reduce payment friction for international participants, showcasing Solana to a global audience of poker players.
The next WSOP event in Paradise, Bahamas, will allow tournament winners to opt for stablecoin payouts on Solana, broadening the application of Solana’s payment capabilities beyond initial buy-ins.
Despite the WSOP partnership, Solana’s price remains under pressure, trading around $64.67 and below crucial technical levels. Currently, SOL is contained within its Bollinger Bands, with the upper band at $67.88 and the 50-day exponential moving average (EMA) near $68.26.
The 200-day EMA stands at $78.19, representing a significant overhead resistance area that aligns closely with the broader resistance level around $77. Although the MACD golden cross indicates a potential momentum recovery, the relative strength index (RSI) is positioned near 44, signaling that buyers have not gained firm control.
A test of lower support near $63.31 is plausible before a more substantial price movement occurs. Should the support hold, Solana may rally toward $72 and $77.
In addition to payment developments, Kalshi has launched SOL perpetual contracts, expanding regulated crypto derivatives in the U.S. These contracts allow traders to track the movement of SOL prices without a fixed expiration date and could attract institutional interest, although they also entail risks during periods of high volatility.
An analyst pointed out a TD Sequential buy signal on Solana’s three-day chart, suggesting potential diminishing selling pressure. If confirmed, this signal could facilitate a price rise toward $77; however, breaching the $60 support level would undermine the bullish outlook.
