This week, the Solana Apple Pay debit card, SolCard, is introduced.
Product details:
- Commission for small purchases (less than $10) will be $0.15.
- Account replenishment fee - 5%.
- Withdrawal fee - network fee $1 USDT.
- Commission for a rejected transaction - up to $0.5.
And the gaming metaverse Star Atlas based on#Solanapresented gameplay. With quite a decent level of graphics.
News for Solana skeptics. Jokes about the blockchain not working on weekends are, of course, funny (we laughed ourselves). But Solana as a technology should not be buried or underestimated.
Technically, SOL continues its correction from the high reached in March. The trend reversal indicator then clearly pointed to a high on the weekly timeframe. And although a similar signal in November 2023 was broken, based on the March signal we immediately said that this time it would be harder to break it.
We consider the entire growth from December 2022 to March 2024 as a completed five-wave structure. The question is whether the correction is complete.
In one scenario (displayed on the first screen of the weekly timeframe), the ABC correction was completed in early April. BUT for such a long and powerful uptrend, the scenario seems too optimistic.
In the second scenario (displayed on the second screen of the weekly TF), wave B was just delivered on the 20th of May. And the decline began in wave C with the plan to update the April level, removing liquidity behind it and simultaneously testing the EMA of the 50 weekly TF (now in the area $105.99 and goes to the volume level of $108.62).
We are supporters of the first scenario, BUT if in the coming weeks the price goes below the volume level of $136.81 (having settled under the upward trend since January 2024), we will change the assessment.
On the daily timeframe for the asset, like many others on the market, there is now a signal for a rebound from the trend reversal indicator. There is a chance to at least test the volume level of $158.56, next to which the EMA of the 50 day TF passes. This will be an important and pivotal test, the watershed between “rebound” and “reversal.”
