Ethereum

Solana

Opus

Rekt

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 <p class="paragraph">Solana (SOL) continues to stand out as one of the top performers in the current crypto bull run, showcasing its strength and outpacing the broader market despite short-term correction.&nbsp;</p>
 <p class="paragraph">However, amidst Solana’s impressive growth, the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> faces ongoing challenges with <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> outages. Over the past two days, the Solana blockchain has encountered significant <a rel="noopener noreferrer nofollow" title="issues" href="https://thebittimes.com/tag/issues.html">issues</a> and congestion problems that have long been synonymous with the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a>.&nbsp;</p>
 <p class="paragraph">The congestion issues can largely be attributed to the increasing number of users and their on-chain activity, particularly with the rise of meme coins and transactions on decentralized exchanges (DEXes).&nbsp;</p>
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 <p class="paragraph">While heightened network activity may drive up the value of the associated token, it unfortunately results in a poor user experience marked by unsuccessful transactions.</p>
 <p class="paragraph">Recent setbacks in the blockchain have hindered its progress. In recent weeks, up to 70% of non-voting transactions on the network have failed, indicating a notable increase in transaction failures.</p>
 <p class="paragraph">Notably, Solana has a history of recurrent downtime incidents, including a significant outage in early February 2024, where block production halts led to over five hours of network inactivity.</p>
 <p class="paragraph">Since January 2022, Solana has experienced about six major outages and 15 days of partial or complete network disruption. Anza, a Solana-focused software development firm, issued a postmortem report on the February 9 outage, identifying a bug in Solana’s Just-in-Time (JIT) compilation cache.</p>
 <h2 class="wp-block-heading" id="h-will-sol-collapse-nbsp">Will SOL collapse?&nbsp;</h2>
 <p class="paragraph">As the network seeks solutions, investors are scrutinizing SOL’s price trajectory. Currently, SOL is showing signs of resilience in the short term, maintaining its price above $170, having gained about 2% in the last 24 hours. With network issues back in focus, the lingering question is whether SOL can maintain its current momentum.</p>
 <p class="paragraph">It is worth noting that the congestion may erode confidence in its network’s performance. Persistent congestion without effective solutions could trigger negative sentiment and a decline in SOL’s price.&nbsp;</p>
 <p class="paragraph">Examining the next trajectory for Solana’s price, crypto analyst <em>Rekt Capital</em> noted that for Solana to sustain its bullish run, it must maintain support above the $184 mark. However, the analyst also noted that some downside volatility, potentially wicking into $173, is acceptable as long as SOL generally stays above the bull flag bottom of $184.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="456" src="https://cdn.thebittimes.com/images/2024/04/06/0133a89f2c1ad0ec4b8872fa2fb81451.webp" alt class="wp-image-166949" srcset="https://cdn.thebittimes.com/images/2024/04/06/0133a89f2c1ad0ec4b8872fa2fb81451.webp 680w, https://cdn.thebittimes.com/images/2024/04/06/0133a89f2c1ad0ec4b8872fa2fb81451.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>SOL price analysis chart. Source: TradingView</em>
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 </figure>
 <p class="paragraph">Interestingly, the crypto <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="prediction" href="https://thebittimes.com/tag/prediction.html">prediction</a> platform <em>CoinCodex,</em> leveraging artificial intelligence (AI), foresees bullish sentiments for SOL in the short term. According to the tool, SOL is likely to surpass the $200 mark and trade around $230 by April 11.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="493" src="https://cdn.thebittimes.com/images/2024/04/06/f3026472b68c7764a2099d7279bafde7.webp" alt class="wp-image-166952" srcset="https://cdn.thebittimes.com/images/2024/04/06/f3026472b68c7764a2099d7279bafde7.webp 1024w, https://cdn.thebittimes.com/images/2024/04/06/f3026472b68c7764a2099d7279bafde7.webp 300w, https://cdn.thebittimes.com/images/2024/04/06/f3026472b68c7764a2099d7279bafde7.webp 768w, https://cdn.thebittimes.com/images/2024/04/06/f3026472b68c7764a2099d7279bafde7.webp 1162w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>SOL price prediction. Source: CoinCodex </em>
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 </figure>
 <p class="paragraph">By press time, SOL was trading at $174 with weekly losses of over 10%.&nbsp;</p>
 <p class="paragraph">Overall, the long-term effects of the congestion on SOL’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> remain to be seen, considering the asset has risen despite the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> outages. Additionally, the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> trajectory will depend on broader market sentiment.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-price-prediction-as-network-issues-escalate-tbt84675.html">https://thebittimes.com/solana-price-prediction-as-network-issues-escalate-tbt84675.html</a></p>

Solana price prediction as network issues escalate

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