Level $175 — key support for Solana$SOL

From a dynamic perspective, the price has pulled back from the local maximum of $206 and is currently fluctuating around $184. Based on the Fibonacci retracement from the recent minimum of $125 to the maximum of $206, the key support level is at $175. This is a classic 38.2% retracement zone. It is often viewed as the first serious support in a healthy upward trend.

If SOL holds above this level, it may trade within a range and then make another attempt to rise. However, a breakout above $187, the key resistance, could quickly change the short-term bearish scenario to bullish.

If the $175 level is broken, it could lead to a deeper correction, confirming bearish signals from SOPR, liquidations, and weakening of bullish strength.$WCT $BMT