Solana Price Drops as Key Technical Level Lost, ETF Demand Collapses

Solana's price has dropped to $97 after a key technical level was lost. The loss of this level, combined with collapsing ETF demand and an upcoming network upgrade, has left investors wondering whether Solana will find support or break into the $80s.

The Federal Reserve raised interest rates by 25 basis points on September 16, taking the target range to 3.75%-4.00%. This move has put pressure on risk assets and could push Solana below its $94.40 support level.

Solana's price range is defined by key levels of $94.40, $90.37, and $85.79 as supports, and $100, $105, $110, and $118.84 as resistances.