The post How Solana’s price could rise or fall based on THESE support levels appeared on BitcoinEthereumNews.com.

Solana faced major resistance at $135 and $144, where nearly 5% of its total supply is concentrated. Key support at $112 and $126 could stabilize price declines, but a break below $94 might trigger a sharp drop. Solana [SOL] traders and investors closely watch the latest on-chain data as the asset navigates crucial price levels. The UTXO Realized Price Distribution (URPD) highlights significant supply concentrations at various price points, offering insights into potential support and resistance zones.  Understanding these critical levels as SOL attempts to stabilize can help predict its next move. Solana accumulation and support zones One of the key accumulation zones for Solana is around $112.10, where approximately 9.7 million SOL, or 1.67% of the total supply, is concentrated. As of the 19th of January, this level already held about 4 million SOL, indicating that long-term investors have been reinforcing their positions. Historically, such accumulation zones often act as strong support, as investors may seek to protect their entry prices and limit further declines. Additional support levels are located around $94, $97, and $100, which together account for nearly 21 million SOL or 3.5% of the circulating supply. If SOL experiences downward pressure, these levels could serve as critical price floors. Below this range, supply concentration is minimal until approximately $56. This lack of significant liquidity suggests that breaking below $94 could lead to a sharp selloff. Resistance and sell pressure On the resistance side, significant supply concentrations exist at $135 and $144. The $135 level has approximately 26.6 million Solana in holdings, while $144 holds nearly 27 million SOL, making up nearly 5% of the supply.  Source: Glassnode These levels were previously significant accumulation zones, where many investors may aim to sell at break-even prices. This could lead to the formation of strong resistance. Additionally, the URPD data…

---

Filed under: News - @ March 21, 2025 2:20 am