Cryptocurrency projects are making their mark in the mainstream financial world. This is evidenced by the decision of the payments giant Mastercard to join forces with a few layer of blockchain projects to develop standardized tools. Most notably is Solana, which is a decentralized protocol that supports an open-source platform to facilitate scalability and encryption. Solana has a stack of blockchain protocols to provide a scalable system, with speeds that could reach 50,000 transactions per second at a minimal cost.

The recent partnership between Mastercard and Solana is truly a celebration for the Solana community, as it is a sign that goes to show the company's reputation in the cryptocurrency world. Moreover, Mastercard's move is testament to the security and speed of Solana’s protocols.

On the price side, the Solana (SOL) cryptocurrency has been building an ascending trend line on its 1-day chart since late December of last year. Already few days ago, the Solana price tested the trend line only to follow with a decent bounce up to the upside. The price then fell on Sunday night due to the crypto market-wide correction. However, SOL's chart still looks broadly bulli, sh as the 4-hour chart has the Relative Strength Index (RSI) near the overbought zone, with a healthy pullback to 41. Meanwhile, the 1-hour chart is signaling a similarly bullish trend for SOL's by having it need to close above the $22 level to go above the trend line.

The addition of Solana to the standardization process is a positive step forward in enabling trust and security in trustless environments for consumers, businesses, and the greater cryptocurrency market in general. Mastercard's Credential service will only build upon users’ trust, while being a catalyst to help SOL breakthrough its yearly high at $27.13, where the 38.2% Fibonacci level is located. Subsequent Fibonacci levels after the breakthrough would be $33.06 (50% Fibonacci), $39.14 (61.8%Fibonacci), and $47.81 (78.6% Fibonacci).

But for Solana, to conquer its next major milestone, breakthrough the 200-day Exponential Moving Average (EMA), a renewed upswing in the overall crypto market is required, especially from the leading cryptocurrency Bitcoin. That being said, the new partnership with Mastercard has sparked great optimism in the Solana community, as the company has vigorously proven its value in the current cryptocurrency market.



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