SOL experienced bearish price action in August, aligning with a notable decrease in network activity on the Solana blockchain. The decline in usage raised concerns among investors and market watchers.
Current analyses suggest that the recovery and potential rise of SOL above the $150 mark will largely depend on a resurgence in Solana's network activity. Key metrics such as transaction volume and active users will be critical indicators to watch.
For SOL to break the $150 barrier, experts believe that enhanced network performance and increased user engagement are essential. Future updates and upgrades to the Solana blockchain might play a significant role in this.
Market sentiment around SOL remains cautious as stakeholders await signs of improvement in network usage and overall blockchain performance.
