Solana (SOL) experienced a price rally following the launch of the REX Shares staked Solana ETF, which provided investors a means to earn yield through staking. The launch marked a significant moment as it was the first-ever US-staked cryptocurrency ETF. However, the upward momentum showed signs of waning, with SOL's price needing to maintain above $160 to imply a potential trend change. The chart analysis revealed that despite a rebound attempt, Solana faced resistance at the 50-day moving average of $156 and was attempting to find support near the 20-day exponential moving average at $148. If buyers can sustain the price above critical levels, there is potential for the price to rise towards $168 and $185. On the contrary, should the price drop below $140, further declines to $126 and $110 could follow. Technical patterns indicated that a break above $159 would be bullish and complete an inverse head-and-shoulders formation targeting $192. Investment decisions should be approached with caution, as market dynamics can shift rapidly.

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