Solana’s UTXO Data Signals Key Support at $129 Amid Short-Term Price Range?
- Solana’s $129.79 price zone holds over 32M SOL, signaling strong investor support.
- 18M SOL at $117 suggests strong support, while 27M SOL at $144 could act as resistance.
- Solana’s price range of $117–$144 highlights key levels for future market movements.
According to recent Glassnode data, Solana ($SOL) has had a significant shift in its cost basis. According to the cryptocurrency’s UTXO Realized Price Distribution (URPD), over 32 million SOL was accumulated at $129.79.
This price concentration suggests that this price point could offer crucial support if Solana experiences market pullbacks. At this point, the level of investor engagement could be key to Solana’s future price direction.
Key Price Levels for Short-Term Price Action
Beyond the $129.79 zone, Solana shows notable concentrations of tokens at two other levels. Just below $129, 18 million SOL (3%) are concentrated at $117.99, which could act as the range’s lower bound.
Meanwhile, apart from the $129 price level, another 27 million SOL tokens (4.76%) have concentrated at $144.54, which functions as short-term resistance. Based on these levels, Solana’s price could ra…
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Solana’s UTXO Data Signals Key Support at $129 Amid Short-Term Price Range?
- Solana’s $129.79 price zone holds over 32M SOL, signaling strong investor support.
- 18M SOL at $117 suggests strong support, while 27M SOL at $144 could act as resistance.
- Solana’s price range of $117–$144 highlights key levels for future market movements.
According to recent Glassnode data, Solana ($SOL) has had a significant shift in its cost basis. According to the cryptocurrency’s UTXO Realized Price Distribution (URPD), over 32 million SOL was accumulated at $129.79.
This price concentration suggests that this price point could offer crucial support if Solana experiences market pullbacks. At this point, the level of investor engagement could be key to Solana’s future price direction.
Key Price Levels for Short-Term Price Action
Beyond the $129.79 zone, Solana shows notable concentrations of tokens at two other levels. Just below $129, 18 million SOL (3%) are concentrated at $117.99, which could act as the range’s lower bound.
Meanwhile, apart from the $129 price level, another 27 million SOL tokens (4.76%) have concentrated at $144.54, which functions as short-term resistance. Based on these levels, Solana’s price could ra…
The post Solana’s UTXO Data Signals Key Support at $129 Amid Short-Term Price Range? appeared first on Coin Edition.
Read More