Solana Price Forecast: SOL climbs 5% as community reviews Firedancer validator performance.
Solana rises 2% as its community considers Firedancer performance upgrades.
Bitcoin Layer 2 startup Solv Protocol issued BTC staking token on Solana blockchain.
Bullish technical indicators boost Solana's prospects of a roughly 11% rise.
Solana (SOL) price rises more than 2% on Friday, reflecting the overall advances among the top cryptocurrencies, as its community talks Firedancer, a new validator that might improve blockchain performance, on social media.
At the introduction of Solv Protocol, Solana prepares for the mainnet launch of Firedancer, a high-performance validator developed by Jump Crypto, a Web3 infrastructure startup. In September, Firedancer launched on the testnet. The mainnet debut is scheduled in early 2025.
The validator should improve Solana's transaction processing, increasing its usefulness and adoption.
Jump Crypto's Chief Science Officer Kevin Bowers emphasized the need of a second fully working validator for the Solana blockchain at the “Breakpoint” annual conference in Singapore at the end of September. The debut date is unknown.
Kyle Samani of Multicoin told Milk Road on YouTube that Firedancer is Solana's “northstar” and may help the token rival Ethereum.
In other Solana news, Solv Protocol launched its Bitcoin staking token on the network. SolvBTC.JUP, a Bitcoin pilot Liquid Staking Token (LST), launched Thursday.
Solana has traded rangebound for over six months, between the July peak of $193.98 and the August 5 low of $110.
Momentum indicators like MACD and RSI indicate the token's potential for growth.
Green histogram bars above neutral indicate positive momentum in the MACD. The RSI is above neutral at 57 and rising.
SOL might surge over 11% and test resistance at $169.43, a level not reached in over two months.
