Solana (SOL) experienced a significant dip during the past week, dropping as much as 15% to fall below $120. This decline coincided with the launch of new Solana ETFs (SOLZ and SOLT), which saw minimal trading activity compared to competitors like BITO. Meanwhile, the newly formed Solana Policy Institute debuted in Washington D.C., led by Miller Whitehouse-Levine. The cryptocurrency’s valuation recently slipped below $60 billion before rebounding slightly, according to CoinMarketCap. Analysis suggests technical weakness may be driving this decline as recent price tests of a key support level have weakened the trendline, potentially setting up for further downward movement.