What to Expect From Solana Price in September
The post What to Expect From Solana Price in September appeared on BitcoinEthereumNews.com. Solana has had a turbulent August. The token repeatedly tried to hold above $210 but failed to sustain momentum, slipping back into range. At press time, the Solana price trades near $205, down 4.5% over the last 24 hours and about 1% lower in the past week. Monthly gains remain above 13%, and the yearly trend is still positive at nearly 50%. However, September could challenge this uptrend as on-chain and technical signals point toward potential weakness. Supply in Profit Near Six-Month High One of the most important metrics is the percentage of supply in profit, which measures how many coins are currently worth more than their cost basis. This metric hit a six-month high of 96.56% on August 28 before easing slightly to around 90% now. Solana Price And Profitability: Glassnode History shows that such highs often precede corrections in the Solana price. On July 13, the metric touched 96% while the Solana price traded around $205, followed by a 23% drop to $158. Again, on August 13, the metric peaked at 94.31%, triggering a 12% correction from $201 to $176. Later, on August 23, another peak at 95.13% led to an 8% slide from $204 to $187. With the metric back near record highs, the risk of a deeper correction in the SOL price in September is increasing. For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Exchange Balances Reinforce Selling Risk That selling risk is reinforced by exchange balances. The amount of SOL held on centralized exchanges surged to more than 32 million tokens on August 28, up from under 30 million earlier in the month. Rising balances usually suggest holders are preparing to sell. Solana Price And Balance On Exchanges: Glassnode The correlation is…
The post What to Expect From Solana Price in September appeared on BitcoinEthereumNews.com.
Solana has had a turbulent August. The token repeatedly tried to hold above $210 but failed to sustain momentum, slipping back into range. At press time, the Solana price trades near $205, down 4.5% over the last 24 hours and about 1% lower in the past week. Monthly gains remain above 13%, and the yearly trend is still positive at nearly 50%. However, September could challenge this uptrend as on-chain and technical signals point toward potential weakness. Supply in Profit Near Six-Month High One of the most important metrics is the percentage of supply in profit, which measures how many coins are currently worth more than their cost basis. This metric hit a six-month high of 96.56% on August 28 before easing slightly to around 90% now. Solana Price And Profitability: Glassnode History shows that such highs often precede corrections in the Solana price. On July 13, the metric touched 96% while the Solana price traded around $205, followed by a 23% drop to $158. Again, on August 13, the metric peaked at 94.31%, triggering a 12% correction from $201 to $176. Later, on August 23, another peak at 95.13% led to an 8% slide from $204 to $187. With the metric back near record highs, the risk of a deeper correction in the SOL price in September is increasing. For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Exchange Balances Reinforce Selling Risk That selling risk is reinforced by exchange balances. The amount of SOL held on centralized exchanges surged to more than 32 million tokens on August 28, up from under 30 million earlier in the month. Rising balances usually suggest holders are preparing to sell. Solana Price And Balance On Exchanges: Glassnode The correlation is…
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