Glassnode Announced: Here Are the Key Levels That Work Very Well for Solana! - Coin Bulletin

Glassnode highlighted the main levels where the price is concentrated and the potential support and resistance areas by examining Solana's (SOL) URPD chart.

The latest data shows that there have been significant changes in price distribution since January 19. In January, Solana reached its historical peak on (SOL), and how the supply has shaped up after this date is also being carefully examined.

According to Glassnode, 9.7 million SOL, which is 1.67% of the ( supply, is concentrated at the level of 112.10 dollars. Previously, there were 4 million SOL at this level, indicating that long-term investors are increasing their costs and that this level could be a strong support area. Investors at these levels may tend to defend their entry prices.

)# Levels where the risk of decline has increased

Another important point is the levels of 94 dollars, 97 dollars, and 100 dollars. At these three levels, approximately 21 million SOL, which is 3.5% of the total supply of (, is accumulated. If these levels do not hold, the downside risk could increase significantly because the supply in this area is quite low. This could also lead to a gap in price movements.

Recent price movements show significant accumulation at levels of $123 )16.2 million SOL, %2.7### and $126 (19 million SOL, %3.2). Demand at these levels may help to balance the current downtrend and provide support. However, resistance levels still pose a significant test for upward movement.

(# Resistance levels are critical

For Solana, higher levels of 135 dollars )26.6 million SOL( and especially 144 dollars, stand out as a concentrated area with nearly 5% of the supply consisting of 27 million SOL. At this level, there were 20.6 million SOL on January 19, which may create selling pressure due to investors aiming to take profits.