<ul data-eligibleForWebStory="false"><li>Solana (SOL) initially surged 5% on news of a Solana ETF but faced immediate resistance at $160, leading to a reversal back to the $144.5-$147.7 range.</li><li>Despite the brief rally, SOL is trading near critical support and resistance levels, with potential downside targets at $124 or even $100 if the current support fails.</li><li>The price action for SOL remains locked in a descending channel since May, with thin momentum and a reliance on Bitcoin's movement to determine its fate.</li><li>Traders are closely monitoring the $144 support level, as a break below could trigger further downside for SOL, while a bullish scenario would require a break and close above $160.</li></ul>

Solana ETF Rally Fades as Charts Signal Potential 20% Drop

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