Solana‘s (SOL) latest analyses, compared to previous predictions made by machine learning and artificial intelligence algorithms, paint a less optimistic picture. The forecasts by machine learning and artificial intelligence algorithms for April 30 generally point to a level of $182.18, signaling a potential pause in Solana’s upward momentum amidst a market-wide recovery. The change in outlook is attributed to various factors contributing to the stagnation in the growth trajectory of the altcoin.
Network Issues Negatively Affect Outlook
Solana’s recent struggle with network disruptions that have plagued the Blockchain network is emerging as a significant concern. As the issues hitting the network, including congestion problems, persist, they pose a major obstacle to the network’s reliability.
The increase in user activity, along with the rise in transactions involving memecoins and decentralized exchanges (DEXs), is worsening network congestion, affecting Solana’s operational efficiency.
The occasional halt or failure of transactions on the network points to an unreliable network experience, pushing users and investors towards alternative assets to SOL. Initially, Solana was seen as an alternative to Ethereum‘s (ETH) scalability and high fee issues, but the problems arising on the network have increased doubts about regaining investor confidence and maintaining its position in the Blockchain world.
Current State of SOL
The combination of reduced price predictions by machine learning and artificial intelligence algorithms and ongoing network issues is increasing concerns about Solana’s future direction. Although unforeseen events or positive developments could lead to a price increase before the end of the month, the current outlook suggests that investors should prepare for a potential sideways or downward period for Solana.
Examining the current price of Solana’s SOL, the altcoin is seen trading at $175.55, a 4.46% decrease over the last 24 hours, facing a potential pause in its growth trajectory. On the other hand, data reveals that despite a 3.7% drop over the past 7 days, SOL has risen by 18.08% over the last 30 days.