Solana Price Gains as Foundation Signs Deal with Dubai Crypto Regulator

Key Insights

• Solana Foundation signed an MOU with Dubai’s VARA to boost regulatory collaboration and ecosystem development.
• The partnership includes talent programs, data sharing, and support for a Solana Economic Zone in Dubai.
• Solana price increased following the announcement, signaling positive market response.

Solana (SOL) price experienced an upward movement following the announcement of a new partnership between the Solana Foundation and Dubai’s Virtual Assets Regulatory Authority (VARA).

Following the announcement of the Solana Foundation’s new partnership with Dubai’s Virtual Assets Regulatory Authority (VARA), Solana (SOL) price increased. The strategic agreement encouraged better collaboration between regulators and blockchain developers.

Consequently, after the recent decline in the crypto market, Solana price is now showing upward growth. Recently, the digital asset space has been focusing on getting clearer guidance from important world regulators.

Solana Price Rises Amid Partnership with Dubai’s VARA Authority

Solana Foundation has just signed an MOU with VARA, the main crypto regulatory authority in Dubai. The agreement outlined ways in which the region will work together to advance the blockchain industry.

The MOU features plans to support talent development, to share economic information, organize regulatory workshops, and set up an economic zone in Dubai focused on Solana.

Despite the broader crypto market retreating, Solana price went up by a small percentage. After SOL price dropped by more than 10% the previous week, the altcoin rose by 4%, and at the time of writing was trading around $160.

This movement followed a low near $150, reflecting a recovery that aligns with renewed investor confidence.

Investors interpreted the partnership as a step toward clearer regulatory support and increased global presence for Solana.

Technical Analysis Suggests Solana Price Reversal

Technical signals support the recent upward momentum in Solana price. Analyst recently noted that the TD Sequential indicator, which is used to identify trend exhaustion, issued a bullish buy signal on the 12-hour chart. This followed a completed nine-candle red setup, suggesting potential for SOL price reversal.

The TD Sequential is often tracked by technical traders during periods of volatility. It identifies price exhaustion by counting sequential patterns, and a completed red nine-pattern often signals a turning point.

In Solana price case, the TD Sequential pattern emerged after a sharp drop, adding weight to the view of a possible short-term recovery.

On-Chain Data Reflects Confidence

Based on the data on Solana’s chain, owners of Solana have withstood the recent increases and decreases. As per Glassnode data, Liveliness on the network hit 0.76, which is the lowest it has been for the last two weeks.

By comparing the number of days a coin is held to the number of days it is traded, liveliness can be measured in the activities of wallet users. Therefore, a Liveliness value that falls usually suggests that investors are choosing to hold their coins instead of spending them.

Additionally, another analyst, Satoshi Flipper, has shared a bullish outlook for Solana ($SOL) price, predicting a rise to $200. According to his analysis, SOL price is at a key support level within an ascending channel.

Satoshi noted that Solana price could climb to the upper resistance, marking a potential strong entry point for traders.

Ecosystem Growth Following Regulatory Agreement

VARA’s MOU with Solana mentions a plan to create initiatives that support blockchain developers and projects focusing on Solana. It includes making advisory services, founder support meetings and policies for economic growth available to help increase utilization of startups in the Middle East and North Africa area.

Dubai is now one of the most important locations for activity in the virtual asset sector. Its progressive rules on innovations are bringing more money and tech minds to the city. Actively working with VARA, the Solana Foundation can be ready to benefit from early local opportunities.

The plan for a Solana Economic Zone is a sign that Dubai wants to secure blockchain activity over the long term. With such programs in place, the creation of dApps designed especially for each market could increase. The background of clear regulations could draw in more developers, and eventually impact Solana price.

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