Solana lands Shinhan deal as $80 dip tests bullish momentum

Solana price is holding steady near $83 as bulls show resilience amid a broader cryptocurrency market bounce from Wednesday's slight dip.

The token is down 2% in the past 24 hours, but could positive momentum, coinciding with major news, lift SOL?

Solana traded around $83.39 at the time of writing on Thursday, with daily volume 39% at over $4.6 billion.

Shinhan Card, Solana team up on stablecoin payments

A series of positive integration and partnership moves includes South Korean financial giant Shinhan Card’s collaboration with the Solana Foundation to advance stablecoin payments on the high-speed blockchain.

Shinhan Card and the Solana Foundation have signed a strategic memorandum of understanding (MOU)  as the South Korean card giant looks to tap into stablecoin payments.

According to an announcement, this partnership builds on a successful proof-of-concept (PoC) completed last year and paves the way for an advanced PoC later this year.

Integration will see Shinhan leverage Solana’s high-performance blockchain infrastructure for real-world payments between customers and merchants.

Shinhan also aims to integrate non-custodial wallets and hybrid finance models, combining traditional finance with decentralized finance for regulatory-compliant, secure transactions.

It’s worth noting that this development arrives a day after Visa expanded its own stablecoin settlement pilot to nine blockchains, including Polygon, Base, and Canton Network.

The project already taps into Solana and adds to the acceleration in stablecoin adoption, particularly amid improving global regulatory clarity.

Meanwhile, Meta has added support for USDC payments on Solana, targeting creators in Colombia and the Philippines. These moves scale adoption.

Solana price outlook

The SOL token peaked at $88 on April 26 before retracing alongside Bitcoin amid macroeconomic and geopolitical headwinds.

The pullback to around $80 came as BTC dropped to under $75,000 after the Federal Reserve's decision to hold interest rates steady.

Losses across risk assets also mirrored souring sentiment as oil prices soared to above $120 per barrel after President Trump said he did not mind an extended US blockade of the Strait of Hormuz.

Bitcoin is back above $76,000 while SOL is testing $84.

Before this downturn, Santiment analysts had noted that Bitcoin and Solana led the market in terms of coins with “the highest level of FOMO across X, Reddit, Telegram.”

This outlook has persisted since late 2025, with 2.98 bullish SOL comments for every single bearish comment.

However, analysts say that “prices move opposite to the crowd's expectations,” and retail optimism may signal fresh selling. Notably, risk appetite can flip quickly if upside momentum fades fast.

Technically, SOL faces bearish pressure of a long-term downtrend, with a breakdown targeting $73 next if support at $80 fails.

Prices crashed to lows of $67 in February.

Currently, the 50-day EMA near $86 serves as a pivotal hurdle, and a rebound above this could spark bullish momentum towards $100.