Solana’s $245 Supply Wall: Could It Halt the Surge in Price?

Solana is experiencing a surge, climbing 19% to reach $230 within the past week. This recent increase has been attributed to bullish signals like a golden cross and potential for new ETF listings. However, on-chain data suggests a significant obstacle could hinder its progress: a supply wall at $245. Analysis from Glassnode reveals this dense concentration of investors bought in around this level—suggesting dormant capital that could prompt selling if SOL reaches or breaches the level. ]