Solana Price Prediction as Excitement Around VISA Partnership Grows – Can SOL Reach $1,000?

cryptonews.com:

The price of Solana (SOL) has risen by 1% in the past 24 hours, moving to $19.77 after Visa announced it would be expanding its stablecoin pilot to include the Solana blockchain.

Despite this good news, SOL remains down by 8% in a week and by 14% in the last 30 days, although the altcoin remains up by 98% since the beginning of the year.

And the news with Visa paves the way for further gains in the coming days and weeks, with SOL's oversold position meaning that it's due a big rebound very soon.

Solana's good Visa-related news comes at the right time as far as SOL's chart is concerned, with its indicators in a position where a sustained recovery should soon be incoming.

SOL's relative strength index (purple) has languished just below 40 for the past couple of weeks, meaning that the coin has been oversold and is now discounted relative to the levels it had previously attained in previous months.

In addition, the coin's 30-day moving average (yellow) is about to fall below its 200-day average, a move which tends to indicate that a recent fall has bottomed out and that a given asset is ready to climb again.

This view is supported by SOL's support level (green), which has risen in the past few days, implying that the coin isn't likely to fall further in the near term.

Indeed, the Visa news has provided a catalyst for SOL's apparent recovery, with the card and payments giant announcing yesterday that it will be including the Solana blockchain in its stablecoin pilot, and that it will be working with Worldpay and Nuvei as part of Solana's involvement in the pilot.

This news provides strong confirmation of Solana's status as one of the biggest rivals to Ethereum in the cryptocurrency sector, with Visa writing in its accompanying press