Solana (SOL) experienced a significant price pullback following a strong rejection at the $205-$206 resistance level. This move came after an impressive 20% rally fueled by market momentum and DeFi adoption. While Solana has seen a notable 4% decline over the past day, it remains above 4% higher than last week’s levels. Analyzing the recent price action, BitGuru’s chart shows SOL’s rejection at this level marked the end of a significant rally that had lifted the token by more than 20%. The pullback follows a bullish pattern earlier in August, where Solana formed a double bottom near $165 before surging to above $200. The current consolidation in the mid-range suggests traders are closely watching the critical support at $172-$176. This zone is expected to offer a crucial test for buyers, with failure potentially resulting in a further downturn towards $165.