Here is what 256 color palette looks like in terminal
And this is what we get if the terminal is only able to display 8 colors
Based on the images above I selected some colors from 256 palette in such way that basic 8 colors would be equally represented in case of downgrade. Red, white and black were not selected because I do not use them in prompts. Even after that magenta is somewhat underrepresented (3 entries less than any other color) because it just does not appear anymore in the downgraded palette.