SOL Price to $100 as Western Union Unveils Solana Stablecoin Plan?

Solana (SOL) is having a rough time getting to $100. It has not reached here since early February. Even when Bitcoin and Ethereum are going up, SOL is stalling. But this price is not showing what is going on. There is a big thing with Western Union, but is it enough to get SOL price to $100?

Western Union Unveils Solana Stablecoin Plan

CoinGape reported Western Union said it will use Solana to get a stablecoin. And that’s not all. Stablecoins might be a very good selling point for Solana because of what is happening with CLARITY. After a lot of back and forth with banks that do not want yields to be paid on stablecoins, a compromise has arrived. The stablecoin yield deal might be the second catalyst for SOL price, and CLARITY the third.

But there is a fourth thing going on. Earlier this week, the leading card issuer in South Korea, Shinhan, said it will tap Solana. It will use it to get its 28 million holders a stablecoin.

But all these things seem not to be enough to move those who are trading even an inch. OI is now at $1.45 billion per Coinglass. And even then, it is at the lowest ever seen in like two weeks.

Lack of leverage might be more good than bad. This is because if things begin to heat up, SOL price might just see a very good move, and there will be no fear that there will be a squeeze that brings things to a halt.

SOL Price Outlook Amid Weak Buying Pressure

It is not a secret that SOL is not seeing that much of a rise in buying. It is because of this that it has failed to even attempt going up to psychological levels like $100. Even $90 looks like a big roadblock for SOL price.

Getting to $100 depends on two things for Solana. But buyers are needed for a bullish long-term Solana price forecast. The stoch RSI shows this very clearly because at 18, it is extremely oversold. But it is tipping up again, and crossing 50 will be the much-needed sign that it might get to $100.

The lack of interest in SOL is not just being seen in futures. The ADX line is going straight, and what this means is that the trend is weak. The only way Solana price goes higher is if the trend can back it up.

The Fib levels now show where SOL is going if it can just begin moving up. Firstly, at 61.8%, there is a hurdle at $85. From today’s SOL price of $83, getting to $85 is a small but very impactful move.

If SOL goes past the hurdle at $85, getting to $100 could be next in line. Here, those buying could increase in number and another rise may happen.