September has always been a dry month for cryptocurrencies and Solana is no exception.

As you can see in my chart, Solana (SOL) started September with an opening price of $108.27. Coincidentally, it made the month's lowest price on the same date at $105.89.

With the exception of 1 red candle, SOL's journey to the month's highest price was full of green candles thus, making a peak at $216 on September 9.

This has proved to be its key resistance for the month of September, as SOL has struggled to cross that point.

China's Evergrande Crisis saw the crypto market collapse as all cryptocurrencies took a dump. SOL plunged to $116.

Although SOL has gone up to $138.43 at the time of writing, with chances of the Evergrande group to skip the deadline for bond payment again, SOL can see a 15-25% decline. This means SOL will re-test the $116 support area.

If prices further fall down, SOL may end up reaching where it had started in the beginning of September- around $105.89.

The worst case scenario for SOL would be to fall below $100 and test the 99 day moving average at $73.37, but since SOL is a potential top 3 coin, I don’t see that happening. So, I would stick to a prediction of somewhere between $105.89-$116 for September end.

I know there are SOL supporters out there who predict SOL will cross $200 again by the end of September, but with the Evergrande crisis, I don’t see that happening any time soon. On top of that, we also have SEC gearing up to regulate the cryptocurrency market.

So, my price prediction for SOL is quite low for September 2021. On a personal note, I am selling my bag of SOL, and it is my investment opinion (not advice) that selling SOL now, and buying it back after the big dump will be more wise.

Happy Reading!

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