The cryptocurrency market seems to be undergoing another slight correction. Bitcoin (BTC) has retraced to the $59,000 level, and the global market cap has fallen 2.7% in 24 hours to $2.2 trillion. Solana’s price prediction is similar.
Solana (SOL) also follows the market trend, falling 3% in the daily charts, 2.5% in the weekly charts, 6.9% in the 14-day charts, and nearly 20% over the previous week. In this price prediction article, let’s find out how high SOL can go in September 2024.
Also Read: Solana: $100 Weekly in SOL Since FTX Crash Is Worth This Much
SOL September 2024 Price Prediction
CoinCodex Prediction
According to the price prediction by the researchers at CoinCodex, Solana (SOL) will consolidate around its current price level for the remainder of this month before breaking into a rally in September.
The platform predicts SOL to hit a high of $161.39 next month, which it may attain on Sept. 12, 2024. Reaching $161.39 from current price levels would translate to a rally of about 13.67%.
Changelly Prediction
Changelly analysts also present a similar forecast for Solana (SOL). The platform anticipates SOL will continue trading around current prices for the rest of August before rallying in September. Changelly researchers predict SOL to hit $167.65 on Sept. 19, 2024. Reaching $167.65 from current levels would translate to a rally of over 18%.
Can the Asset Go Any Higher?
Brazil’s regulator recently approved another spot for the SOL ETF in the country. The development could lead to a surge in inflows into the asset. Launching 11 spot BTC ETFs in the US led to a significant rally for Bitcoin earlier this year. A similar pattern could emerge for Solana as well.
Also Read: SEC Pauses Solana SOL ETF Filings, Delays Approval Process
If the cryptocurrency market enters another bullish phase, we may witness additional tailwinds for SOL, which could take the asset higher than forecasted.
