Solana (SOL) faces further downside risk after losing key support, with buyers needing to reclaim the level to limit selling pressure. Meanwhile, Samsung’s partnership with Solana aims to bring USDC payments to Galaxy users, potentially expanding stablecoin adoption and everyday blockchain payment use.
As of now, according to CoinMarketCap data, Solana is trading at $109.64, with an increase of 1.78% over the past 24 hours and a decrease of 8.5% over the past week.
SOL Price Risks Deeper Correction as $116 Support Breaks
According to prominent crypto analyst Sjuul, Solana is facing renewed selling pressure after losing the key $116 support level, raising concerns about a deeper short-term correction. Buyers now need to reclaim this level to stabilize the price and prevent further downside.
The immediate focus is on whether bulls can push SOL back above $116 and turn the level into support again. A successful recovery could help ease bearish pressure and improve the short-term price outlook. However, if buyers fail to reclaim this level, SOL could extend its decline toward the $106 support zone.
The next move around $116 will be crucial in determining Solana’s near-term direction. A recovery above this level could limit further losses, while continued weakness may expose the token to another leg down toward $106.
Samsung Partners With Solana to Bring USDC Payments to 82 Million Galaxy Devices
The data from Solana further shows that Samsung is partnering with Solana to expand stablecoin payments across its Galaxy ecosystem, bringing USDC transfers to Samsung Wallet users in the United States. The integration is expected to begin rolling out in the last week of October, potentially making cross-border payments more accessible.
The partnership will allow eligible Samsung Wallet users to send money internationally using USD Coin (USDC), a stablecoin pegged to the US dollar, through the Solana blockchain. This could offer an alternative to traditional international transfers, which can involve higher fees and longer processing times.
The integration also gives Solana an opportunity to reach millions of smartphone users through an established consumer platform. With access to an estimated 82 million Galaxy devices in the US, the move could help introduce more people to blockchain-based payments without requiring them to interact directly with complex crypto infrastructure.
For Samsung, the move adds another potential use case to its digital wallet, while Solana could benefit from increased activity as stablecoin payments expand. However, the rollout’s actual impact will depend on user adoption, transaction costs, supported transfer destinations, and the service’s final availability.
