Solana's 129.79 Dollar Level Holds 5% of Total Supply

Over the past 48 hours, Solana (SOL) has undergone a significant shift in its on-chain cost basis, as indicated by the URPD (Uptick Realized Price Distribution) chart. This shift has resulted in the formation of a substantial new supply cluster, with the 129.79 dollar level emerging as a critical point where over 32 million SOL, representing more than 5% of the total supply, have been acquired. This new cost basis cluster is pivotal in Solana’s current market structure and is likely to play a key role in determining price behavior over the coming days and weeks. The 129 zone is experiencing increased investor activity and has the potential to serve as a robust support zone during any future price declines. If this support holds, the rebound potential from the 129 zone could be significant, making it an attractive entry point for confident market participants.

The concentration of 32 million SOL at 129.79 dollars reflects growing investor engagement at this level. When large volumes are concentrated around a specific price, it often becomes a focal point for market behavior, known as a high volume node. This can provide both psychological and technical support, as investors who bought near this level are more likely to defend their positions if prices pull back. From a broader perspective, the price structure for the Solana (SOL) token reveals other notable levels forming a short-term trading range. Above the 129 cluster, the next significant price level is at 144.15 dollars, where another 19 million SOL is held by 9.1 million token holders. This level could serve as a rallying point for SOL if the price moves upward from the current levels. Conversely, support could form around 140.09 dollars, where approximately 4.53 percent of the total supply was last transacted via a smart contract. This level was last touched on May 31, January 26, and March 20, indicating its historical significance. If SOL fails to hold above 140 dollars, it might suggest a struggle to reclaim this level as support.

The range of 117 to 144 dollars is quickly establishing itself as the latest frontier for Solana price movement, with 129 dollars emerging as the principal pivot point. The action around this price level will be closely watched by traders using technical analysis methods. Decoding URPD data provides valuable insights into the levels of support and resistance, reflecting real-time market participant behavior. The appearance of the 129 level as the main supply area indicates cautious optimism among investors. If this level holds under current volatile conditions, it strengthens its potential as future support. Conversely, if the market decisively breaks below 129 dollars, attention will shift to 117 dollars, which could become a new supply zone. Any bullish activity faces resistance at 144 dollars, and further upward movement may depend on fresh capital entering the ecosystem or improving macro conditions. If 144 dollars is surpassed in the coming days, it could be a positive sign for Solana’s price trajectory.

Solana remains a closely monitored asset in the crypto market, playing a key role in discussions around scalability, performance, and on-chain innovations. The rapidly shifting URPD landscape highlights the dynamic nature of investor sentiment and underscores the importance of monitoring blockchain data for real-time signals. While costs remain unpredictable, the basis clusters will define Solana’s price. It is crucial for investors and traders to stay informed and conduct thorough research before making any investment decisions in the cryptocurrency market.