Technical analysis by The_Alchemist_Trader_ about Symbol SOL: Buy recommendation (6/3/2025)

Solana (SOL/USDT) has respected its 0.618 Fibonacci retracement level, which aligns with a high-timeframe higher low in the ongoing bullish market structure. If this level continues to hold, Solana may be preparing for a rotation toward $175—and potentially beyond.The current support level is not only a Fibonacci retracement zone but also represents a structural higher low in Solana’s trend. As price bounces from this area, the bullish market structure remains intact, characterized by consecutive higher highs and higher lows. This setup suggests that Solana is merely in a corrective phase before a potential continuation.Key Technical Points- 0.618 Fibonacci Confluence: Aligned with a key higher low in the structure, this level is providing strong technical support.- $175 as Immediate Resistance: A breach of this level could open up a continuation move toward $200 and $216.Bullish Market Structure: Solana continues to print higher highs and higher lows, maintaining the integrity of the uptrend.If Solana successfully reclaims and breaks above $175, it would confirm a short-term shift in momentum. This move would likely accelerate price toward $200—the next psychological and technical level. If that level is breached as well, the door opens for a rotation toward the $216 high, completing the current projected trend wave.As long as the 0.618 Fibonacci support holds, Solana remains bullish. A clean move above $175 would confirm the trend continuation, with $200 and $216 as the next logical upside targets. Watch for strong volume on the breakout to validate the move.