Watching $SPCX at this support zone

It's been a rough session for $SPCX, currently trading around 108.37, down over 3%. Looking at the daily chart, we've come right back down to a zone that has historically offered some support, roughly between 107.50 and 108.00. We saw a decent bounce off this area back in early April, and then again just last week. The intraday low today hit 107.57, so it's definitely testing that lower bound.

My thinking is we'll either see some consolidation here, perhaps a small relief bounce, or if that 107.50 level gives way on a closing basis, we could be looking at a retest of the next significant support around 105.00. Volume has been elevated today, which suggests conviction on the downside. For now, I'm watching closely to see if buyers step in at this psychological and technical zone, or if the current downtrend accelerates. The risk here, from my perspective, is a sustained close below 107.50 invalidating any short-term bullish outlook for a bounce.