Here’s Where Support & Resistance Lies For Solana, Based On On-Chain Data

Quick Summary:

First, here is how the URPD looked when the cryptocurrency set its new all-time high (ATH) back in January: From the graph, it’s apparent that a few price levels like $144 stood out in terms of the amount of supply that they hosted.

Beyond this level, Glassnode notes, “$94, $97, and $100 collectively hold nearly 21M SOL (3.5% of supply).” In the scenario that these support levels fail, Solana may find itself in trouble, as there aren’t any major supply clusters until $53.

Solana Cost Basis Distribution Reveals Where Supply Is Most Concentrated In a new post on X, Glassnode has discussed about the UTXO Realized Price Distribution (URPD) of Solana.

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Article Details

Author / Journalist: Keshav Verma

Category: Crypto

Markets: United KingdomIndiaJapan

Topics: Solana Solana resistance Sol Solana Support Solana Cost Basis Distribution SOLUSDT Solana On-Chain Data

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 10:00:01 (20 hours ago)

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News Source URL: newsbtc.com

Language: English

Article Length: 462 words

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Sentences: 72 lines

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News ID: 27190021

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