The price of Solana (SOLUSD) has followed one of the most disappointing paths as volatility keeps gains at bay.
Solana Faces A Selling Pressure
In September, analysts suggest that SOL might have an extended corrective month as no sufficient fundamental support is seen to back bulls.
Normally, Solana price moves in tandem with Ethereum and Bitcoin, but recently, large investors have been exerting more of an impact. Sadly, because these investors have adopted a bearish attitude, their impact has been detrimental.
Analysts' Opinion on SOL
Massive wallet owners regularly withdraw their money in August. As of August 24, SOL had lost $34.3 million in value, making it the least popular cryptocurrency asset.
September will probably see more of these outflows. Griffin Ardern, the Head of BloFin Research & Options, supports this opinion, speculating that SOL may perform worse than Ethereum.
Ardern did, however, also point out that SOL, with its meme coins, offers more alluring stories and uses for investors than Ethereum. As a result, despite the present pessimistic outlook, its price efficiency may surpass Ethereum's.
