What Should Investors Expect from Solana (SOL) in September 2024

Solana Institutional Netflows. Source: CoinShares

These outflows will likely continue in September. Griffin Ardern, Head at BloFin Research & Options, supports this view, suggesting that SOL might underperform, potentially faring worse than Ethereum.

“For Solana, we tend to believe that its price performance will be similar to ETH, but its price will be more solid than ETH. Since Solana has not yet entered the portfolio of traditional market investors, its ability to obtain liquidity will be worse than BTC and ETH, and the impact of liquidity changes on SOL prices will be relatively more significant, which means that its volatility will be higher than BTC,” Ardern told BeInCrypto.

However, Ardern also mentioned that SOL has more attractive narratives and applications for investors compared to Ethereum, such as meme coins. Because of this, its price performance could potentially outperform Ethereum’s, despite the current bearish outlook.

SOL Price Prediction: For the Better or for the Worse?

Solana’s price might not take a single path but fluctuate between bullish and bearish, just as it did in August. The range between $160 and $126 has been a strong consolidation zone for the past five months.

SOL is expected to stay within this range, with potential to break out toward $169. However, its broader consolidation between $186 and $126 might prevent a full escape.