Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Solana sees momentum decreasing as updates fail to address congestion.
ALTCOIN NEWS

Solana sees momentum decreasing as updates fail to address congestion.

By Crypto FlexsMay 1, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Solana sees momentum decreasing as updates fail to address congestion.
Share
Facebook Twitter LinkedIn Pinterest Email
  • Solana (SOL) is down 16.56% in 7 days.
  • Technical indicators provide sell signals.
  • Despite update attempts, the Solana network is still facing congestion.

The recent downturn in the cryptocurrency market is affecting most tokens, including Solana. High-performance blockchains are showing a noticeable decline after months of strong performance.

Coupled with the decline are worsening technical issues and ongoing congestion issues that still plague the network despite recent updates.

Learn more

Solana’s tech decline, time to sell

Solana’s recent decline reflects the overall downturn in the cryptocurrency market. On Tuesday, April 30, Solana was trading at $128.41, with a daily decline of 4.74%. The token is also down 16.45% for the week compared to $154.5 last Tuesday. This decline has caused most of Solana’s technical indicators to turn bearish.

Solana Technical Indicators.
Source: TradingView

Most oscillators, including Relative Strength Index (RSI), Stochastic %K, and Awesome Oscillator, indicate a neutral position or sell action. RSI is 35.58, indicating a neutral stance, and Stochastic %K is also 25.91, indicating a neutral stance. The Awesome Oscillator registered at -22.48, reflecting a neutral mood.

Solana’s moving averages further confirm the bearish trend, while most indicators indicate selling action. Exponential moving averages (EMA) and simple moving averages (SMA) for various time periods such as 10, 20, 30, and 50 days indicate sell positions. In particular, the 200-day EMA and SMA are 112.09 and 103.08, respectively, suggesting a long-term buy signal.

The worsening technology has also been accompanied by ongoing congestion issues due to high DeFi and Memecoin traffic. Solana’s recent attempts to alleviate network congestion through updates have not fully resolved the ongoing problem.

Solana faces persistent network congestion.

Despite significant updates to fix “implementation bugs” related to the QUIC protocol, the network still faces issues. Even on Monday, April 29th, the transaction failure rate was still quite high at 65.75%.

Solana transaction failure rate chart.Solana transaction failure rate chart.
Source: Dune

This update was critical to improving network performance by prioritizing transactions from more invested network participants and adjusting the handling of staked and non-staked packets. However, the success of these updates will largely depend on widespread adoption by network validators, and continued high transaction failure rates suggest challenges remain.

This continued congestion will impact Solana’s reputation and could impact its long-term adoption by developers and investors. This is especially true in the DeFi and NFT sectors, where transaction efficiency is critical. Solana was particularly popular.

On the flip side

  • Solana’s performance has closely followed that of the entire cryptocurrency market. For example, Bitcoin 9% loss Its value over the past seven days is currently trading at $60,800.
  • So far, Solana investors have not reacted negatively to the congestion issues. Instead, the token largely followed the larger trends of the market.

Why This Matters

Solana’s recent struggles with network congestion and falling technical indicators could have a significant impact on its market position. As a high-performing blockchain that previously enjoyed strong performance, ongoing issues may deter developers and investors alike.

Learn more about the latest Solana updates:
Will the Solana update solve congestion? Here’s what it depends on:

Learn more about North Korea’s Lazarus hackers:
Lazarus Evading the Authorities: Blockchain and $200 Million Laundering

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025
Most Popular

Analysts have ranked XRP as the top coin for the 2024-2025 Bull Run.

December 9, 2023

Transactions – Low fees force channel closure

January 1, 2024

Bitcoin (BTC) Approaches Potential Local Bottom Amid Market Volatility, Bitfinex Alpha Reports

July 8, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.