Solana’s Price Action: Key Support at $129.79, Hints at Potential Resistance Levels

Solana’s price has recently hovered around the $129.79 level, where a significant accumulation of tokens totaling over 32 million SOL suggests robust investor support. This concentration is notable as it could act as crucial support if Solana experiences short-term market fluctuations. Additionally, data from Glassnode indicates a shift in Solana’s cost basis. The UTXO Realized Price Distribution (URPD) reveals that 18 million SOL at $117.99 and 27 million SOL at $144.54 have significant concentrations within the price range.