The storm after the calm for Solana (SOL) holders. . The crypto-verse has been rather quiet over the past few days. Investors had finally experienced some relief following the brutal bears’ takeover because there had been no notable price changes in the market. This was unusual to many because the cryptocurrency market wasn’t being its typically volatile self.
However, today, SOL is once more making headlines. Unfortunately, the cause this time is unfavorable. The token experienced its fourth significant outage since January on October 1 at 6:15 IST, according to a message from Solana Status, a Twitter account apparently run by the Token’s Foundation.
The network was having trouble processing transactions, according to the tweet. Additionally, programmers from all corners of the ecosystem were working hard to restart the network.
At 7:07 IST an hour later, Solana Status tweeted a link to a paper. For mainnet beta validators, there was a document titled “Solana Mainnet-Beta Cluster Restart 1.” The tweet added a request for these validators to adhere to the cluster restart guidelines.
There was some opposition to the network’s attempts to resolve the problem. Due to network problems, the majority of validators were unable to follow the restart instructions. For instance, a game developer named P2 Moo noted on Twitter that the network disruption was still active.
Stakewiz.com, a blockchain and software business, also offered their thoughts on the matter. According to the blockchain startup, “A misconfigured node produced an unrecoverable partition in the network.”
Solana: Damage has been made
SOL was still with the bears at the time of writing after the aforementioned developments. In the previous day, it fell by 3.9%.
The price of the Ethereum-killer was $1,332.12 at the time of publication. Right at the neutral 50 line, the Relative Strength Index (RSI) was resting. It was observed that traders were finding it challenging to understand how the SOL’s market was moving.
Together, the signal line and the Moving Average Convergence Divergence (MACD) line sought to advance above the zero line. Simply put, at the time of publication, the indicator was sending conflicting indications to traders.
The Awesome Oscillator (AO) level, on the other hand, indicated that the market was in transition. And sellers held the advantage as of the writing.
