SOL Approaches Critical $202 Level: 61.8% Fibonacci Key for Year-End Rally

Solana ($SOL) has been under close observation after a volatile period of sharp rallies and swift ￰0￱ to analyst Trader_XO, $SOL took 12 days to climb from $200 to $253, only for most of the gains to reverse in just seven ￰1￱ quick unwind raises concerns about market strength and suggests a potential shift in context. Trader_XO notes that a lower high could present another selling opportunity, reflecting the cautious sentiment among traders. 61.8% Fibonacci: A Crucial Support Level Ardi, another market analyst, highlights that Solana recently hit the $202 target, closely aligning with the 61.8% Fibonacci retracement at $203. This level acts as a crucial support, as holding above it could reinforce a bullish ￰2￱ dips below $200 may occur, but strong buying interest could drive $SOL toward $220–$236.