TLDR:Solana surged nearly 28% from $160 to $204.98 after bullish reversal signals.Price is consolidating near $185 as short-term momentum slows.The $170–175 zone is now a critical demand area for potential support.A bounce may resume the rally; a breakdown could shift sentiment bearish.Solana just came off a sharp rally, pushing past the $200 mark before pulling back. The price exploded from a double bottom near $160, peaking at $204.98. Now it’s cooling down, hovering around $185 as traders lock in profits. Support is forming between $170 and $175, a zone to watch closely. If the pullback deepens, that’s likely where bulls will look to re-enter.Solana Rally Sparks After Reversal PatternsCrypto analyst BitGuru reported a strong reversal that set this run in motion. A clean inverse head and shoulders pattern was spotted, followed by a textbook double bottom around $160.18. That confluence triggered buying pressure, pushing SOL into a steep uptrend.$SOL surged from a double bottom near $160 to a high of $204.98, confirming strong bullish momentum. However, it's now pulling back and trading around $184.92. If the correction deepens, the next key support lies in the $170–175 demand zone. #SOL #Tradingview pic.twitter.com/Oraphrxf1q— BitGuru (@bitgu_ru) July 24, 2025The coin then surged nearly 28% to a swing high of $204.98, fueled by solid momentum. It marked a shift from consolidation into full-on breakout territory. Traders noted the strength as Solana outpaced much of the market during the run.BitGuru noted that the price stalled around the $200–205 resistance zone. That level triggered a pullback, with sellers stepping in after a top wick rejection. The chart started printing small bearish candles, suggesting short-term pressure.At the time of BitGuru’s analysis, SOL traded near $185. While still elevated, this level has seen a drop in bullish volume. According to BitGuru, this could reflect orderly correction behavior, not a trend reversal.Demand Zone Between $170–175 Holds the KeyThe $170–175 range is now the zone to watch. This region, marked by past consolidation and breakouts, may offer strong support. BitGuru believes buyers will likely defend that area if prices fall further.A bounce from this level could restart bullish momentum. However, if the support fails, Solana could shift into a bearish short-term pattern. That would likely weaken sentiment in the near term.Per CoinGecko, Solana is trading at $189.48, posting a 0.08% gain in the last 24 hours. The 7-day performance shows a 9% climb, with over $20.5 billion in trading volume. The recent activity confirms heightened investor interest around the $200 breakout.SOL price on CoinGeckoSolana’s price action remains volatile but structured. The current pullback doesn’t show signs of panic, yet. All eyes are now on the $170–175 range, which could shape the next big move. The post Solana (SOL) Cools After $204 Peak, Holds Above Key $175 Support appeared first on Blockonomi.