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Summary
• Price dropped from $124.37 to $120.2, breaking key support at $122.
• Volume surged in the late hours of Dec 25, coinciding with the breakdown.
• RSI hit oversold levels near 30 during the selloff, suggesting potential rebound.
• Bollinger Bands expanded as volatility spiked after the 24-hour low.
• A bullish engulfing pattern formed around 05:00 ET Dec 26 near $122.05.
At 12:00 ET on Dec 26, Solana/Tether (SOLUSDT) opened at $124.11, reached a high of $125.14, and closed at $121.24 after a low of $120.2. Total 24-hour volume was 1,211,531 SOL, with notional turnover of $145.4 million.

Applying Fibonacci levels to the recent $120.2–$125.14 swing, the 61.8% retracement level sits at $123.61, which could serve as a short-term resistance. A rebound from the 38.2% level at $122.80 may be key to watching for a possible reversal.
The market may test the $123.00–$123.50 range in the next 24 hours if the bullish engulfing pattern holds. However, traders should be cautious of a potential retest of the $120.20 level if bearish momentum resurfaces.
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