Despite the fact that previously machine learning and artificial intelligence algorithms presented a rather optimistic estimate of the future price of Solana, the updated forecast is much more modest . Thus, the figures for April 30 reflect a slight drop to $182.18. The minimal change in value indicates a potential consolidation of Solana, despite the emerging recovery of the cryptocurrency market.
Solana price forecast for 1 month. Source: PricePredictions
This stagnation may have several justifications, including concerns about interruptions in the Solana network, the latest of which happened last week. Perhaps the whole point is in the growing number of users and their activity on the network, which is stimulated by the recently released numerous meme coins and transactions on decentralized exchanges (DEX). Solana price analysis Currently, the price of Solana is fluctuating around $175.85, showing a daily decrease of 4.3%. Weekly losses are comparable to daily ones – 4.4%.
Solana 7-day price chart. Source: CoinGecko.
Will Solana be able to regain investor confidence? In the face of transaction failures and unreliable network operation, users and investors turn their attention to Solana's competitors. Note that Solana's recent success in the market is largely due to the poor user experience of Ethereum, where there are high commissions with low scalability. The excitement around meme tokens tends to subside, so the strength of the position of the Solana blockchain may at some point be in question. Ultimately, the choice of users will depend on the mood of the entire crypto market, which is difficult to predict.