Solana (SOL) is consolidating below $128, trading near $124 amid significant ETF inflows and leverage risks. The cryptocurrency faces potential volatility, with nearly $90 million in long leveraged positions at risk of liquidation. Derivatives data indicates heavy leverage between $123 and $129, contributing to market uncertainty. Despite a 1.55% drop to $124.30, Solana shows signs of accumulation, with over $8.77 million moving to private wallets. U.S. spot ETFs continue to drive inflows, suggesting ongoing interest. Key support and resistance levels are identified at $123.50 and $128.23, respectively, with a potential test of $117 if support fails.