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Recent on-chain data for Solana 
$151 (SOL), a cryptocurrency favored by many Turks, reveals significant shifts in investor behavior over the last two days. According to Glassnode’s UTXO Realized Price Distribution (URPD), the highest concentration of supply is now found at the $129.79 level. This price range has seen transactions exceeding 32 million SOL, establishing one of the strongest support areas across the network. This data indicates that a substantial number of investors have made purchases at this level during recent price movements, suggesting that such clustering could serve as a psychologically and technically strong support zone during price declines.
Support and Resistance Levels for Solana Become Clearer
The URPD distribution illustrates a significant accumulation of approximately 18 million SOL just below $129, specifically at the $117.99 level. This area may act as the first line of defense against short-term declines. Conversely, during upward movements, a supply density of 27 million SOL is notable at the $144.54 level, indicating that the price may struggle to surpass this resistance point.
From an investor’s perspective, these price ranges provide significant signals. On one hand, the concentration of buy orders around the $129 mark demonstrates investor confidence, while on the other, the supply at around $144 may create resistance against short-term rallies.
Investor Behaviors Clarified Through On-Chain Data
The latest on-chain data from Glassnode elucidates at which price points Solana investors are positioning themselves. Notably, high-volume supply concentrations play a crucial role in trading strategies and technical analysis. The bars in the URPD chart represent the total trading volume at each price range, clearly reflecting market behaviors.
The observed volume shifts over the past two days indicate that investor interest in Solana remains robust, with significant accumulations occurring at specific price points. This insight proves valuable in mapping potential price movements for the altcoin in both the short and medium term.
