The Fibonacci retracement indicator suggests that an increase in selling pressure could push Solana down to the 78.6% retracement level at $47.6 USD. A steeper correction to the 61.8% retracement level at $35.8 USD could occur if this support level fails. On the other hand, a continuation of the bullish trend could lead Solana to surpass the 38.2% retracement level at $134 USD, which may act as a resistance level. A break above this level could open the way for further gains towards the 23.6% retracement level at $167.4 USD or the all-time high of $259.96 USD.
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