Solana (SOL) Price Has Dropped by Nearly 50% from Its Recent ATH

The Solana price has suffered a devastating bearish fate, falling nearly 50% from its recent ATH. Many investors are increasingly worried about Solana's short-term future

The Solana price has suffered a devastating bearish fate, and it is quickly approaching another crucial support level as investors are increasingly worried about the short-term future of SOL.

The Solana price has slid further and is now testing the lower Bollinger Band, which could lead to further drops if bearish momentum continues.

Solana Price Struggles But Shows Early Signs of Recovery

The Solana price has had a rough week. It is down 24% since Monday, sliding from $172 to as low as $134. However, it managed to regain some ground, pushing back to $137 early Thursday.

The Solana price has been testing support around the $130 level, which is currently holding as selling pressure seems to ease.

This recent dip in the Solana price comes as FTX’s upcoming token unlock is looming, which may spark more selloffs. But a brief rally came on Tuesday after the DTCC approved the Solana futures ETF.

Despite recent advances, the Solana price is still trading close to the lower Bollunger Band, and further declines are possible if bearish momentum continues. The Solana price is trying to stabilize, but traders will be closely watching to see how it responds to existing support levels.

Avalanche Foundation Launches Crypto-Powered Visa Card

In other crypto news, the Avalanche Foundation can now accept online and in-store purchases using crypto coins like AVAX, USDT, USDC and WAVAX. The blockchain-based credit card was created in partnership with issuer Rain and it enables cryptocurrency payments at any Visa card point worldwide.

First, the Avalanche Foundation is targeting Latin America and the Caribbean, where the adoption of digital assets is increasing due to the economic challenges. This is the latest move by Avalanche to make its blockchain more mainstream and improve everyday financial transactions.

AVAX has been struggling recently but it remains a strong contender in the blockchain space. Currently, AVAX is trading around $22.3, and analysts expect it to rise to $40 by the year-end if the Visa card rollout goes well and the coin takes off. This new product could be a catalyst for the AVAX price, as Avalanche would be drawing momentum from the fast-growing global payment industry.

Remittix: Simplifying Cross-Border Payments with Crypto-to-FIAT Solutions

Remittix (RTX) is revolutionizing how people make payments around the world. The platform aims to be the ultimate solution for businesses and individuals who need to move money quickly and easily between countries.

It supports over forty cryptocurrencies and its users can readily send or receive their crypto assets in any of 180+ countries and effortlessly convert them into traditional currencies, including GBP, USD, EUR, and more.

Remittix also boasts a unique Pay API, which businesses would find especially attractive. This API allows businesses to accept crypto payments from anywhere in the world and have them seamlessly paid out in preferred currencies.

The new project also allows long-term holders who prefer to hold their RTX tokens for extended periods to stake them and earn up to 18% APY.

As the demand for better payment solutions increases, Remittix is gaining momentum and several experts see the platform as a potential disruptor of the global payments market.

Join The Remittix Presale Success Today

More than $13 million has been raised so far in the Remittix presale and over 50% of tokens have been sold. Experts say RTX will surge up to 800% post-launch, with some optimistic predictions placing the returns at an astounding 1000% for early investors.

At only $0.0694 per token in its presale stage, this is the best time to buy into what could be the next big thing in the crypto market. Be a part of the project that may change the face of cross-border payments.

Join the future of PayFi with Remittix:

Website: https://remittix.io/

Socials: https://linktr.ee/remittix