Solana (SOL) is holding strong into Wednesday despite some disappointment after sliding lower in the cryptocurrency rankings after its competitor Cardano surged and rose higher in terms of market cap. At the time of writing, SOL/USD is trading at around $242.13.

While both cryptos are considered potential Ethereum killers, their scope of operations and use cases vastly differ from one another. As a result, it looks like investor confidence remains upbeat towards the superfast blockchain, keeping its price supported and ensuring that the pullback remains momentary.

One of the biggest announcements powering enthusiasm among the market towards Solana was news a partnership with Brave, which opens up access to Solana dApps for the browser users and will eventually lead Brave to default to Solana for cross-chain and native dApps. While the news did power bullish moves in SOL, interestingly, it also drove quite the surge in Brave’s native token, the Basic Attention Token (BAT), causing it to spike by more than 25%.

This partnership is one of the biggest and most exciting ones announced by Solana’s team of developers at its Breakpoint conference in Lisbon. According to CEO at Solana Labs, Anatoly Yakovenko, “For billions of people, the mobile web will be their gateway to Web3. Deep integration with browsers is key to helping DApps build the best web experiences. Brave’s announcement of Solana wallet support across all versions of their browsers is an important step to onboard the next billion users to Solana.”

In other news, Phantom has announced a mobile version of its Solana wallet at the same event. Its custodial wallet on the desktop has more than one million users and provides an experience similar to MetaMask. This development will let users mint NFTs, stake tokens, and more on the Solana ecosystem, even when on the move, right from their mobile devices.

Meanwhile, it looks like Solana is set to bring interoperability to its network soon. Neon Labs, a software environment on the blockchain, recently raised $40 million and will soon launch EVM functionality for the network. The mainnet launch could happen as soon as this month, letting developers build apps using the EVM and post projects from Ethereum and other EVM-compatible blockchains into Solana.

SOL/USD Technical Analysis

On the H4 price chart of SOL/USD, smaller moving averages along with the MACD (brown) are exhibiting a bearish bias. However, the larger timeframe MAs as well as the momentum indicator (blue) point to the presence of buyers in the market.

Solana’s price is holding above the pivot point at $235.84 but has a long way to go to test the immediate resistance at $273.92. Keep a close watch on the price action around the pivot point as a breakdown of this could spur some panic selling.