Solana Struggles with Disappointing CLARITY Vote and ETF Demand Slump

Solana's price has fallen to around $97 after a disappointing CLARITY vote and a drop in ETF demand. The network is set for an upgrade, Alpenglow, on September 28, which could give the token support.

The Federal Reserve raised interest rates by 25 basis points on September 16, putting pressure on risk assets. Solana's price range has narrowed to between $94.40 and $100, with key levels at $94.40 and $90.37. A close under $94.40 would put the lower support in play.

If the Fed holds rates, a clean Alpenglow activation could give buyers two reasons to return, and Solana's price might move higher. However, if the Fed signals more rate hikes are coming, traders may reduce their exposure to risk assets, pushing Solana's price toward $85-$90.