Solana Drops 3.5% to $97 After the CLARITY Vote Falls Short. Is $94 the Floor?

Solana just lost a key technical level while ETF demand collapsed and a major network upgrade looms two weeks out. Whether SOL finds a floor or breaks into the $80s depends on a Fed decision and a blockchain activation that…

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Solana (CRYPTO:SOL) trades near $97 on September 16 after falling 5.45% in the previous session to close at $96.93. Its 20-day EMA is around $97.70, putting SOL near a key short-term trend level.

The Federal Reserve raised rates by 25 basis points on September 16, taking the target range to 3.75%-4.00%, while Solana’s Alpenglow upgrade is scheduled to begin activation on September 28. SOL remains up roughly 29% over the past month despite the September pullback, leaving the $94.40 support and $100 resistance as the key levels heading into October. So what could SOL be worth by October 1?

Solana’s Price Range as Q4 Approaches

Solana’s January 19, 2025 all-time high of $293 leaves SOL about 67% below its record, making a return to that level a much larger move than the remaining September window allows. The immediate question is which part of the current range holds into October 1.