Solana Price Poised for Potential Rebound, Fibonacci Support Suggests Entry Point

Analysis suggests a potential bounce for Solana’s price with support near $171.49. The technical breakdown utilizes Fibonacci retracement levels, highlighting a key support zone that traders are watching closely. Despite recent modest gains, the lack of impulsive upward momentum suggests a possible deeper correction before a potential reversal. If buyers step in and gain momentum, this could drive $SOL towards the $200 resistance level, but only if the price continues to increase.