Solana Price Faces Downside Risk Despite Technical Upgrade

Solana's Transaction V1 upgrade has increased the network's maximum transaction size from 1,232 bytes to 4,096 bytes, allowing for more complex and data-intensive applications.

The upgrade, which went live on September 15, enables developers to build applications that use zero-knowledge proofs, larger multisignature configurations, and advanced decentralized-finance operations.

Despite the technical improvement, Solana's price remains under short-term selling pressure, with several indicators pointing to a possible retest of support at $94.16.