Solana Faces Key Levels: Will Support Hold?
Key Takeaways
Solana (SOL) is trading at critical price levels that could determine its future price movement. Resistance at $135 and $144 could trigger selling, while support at $112 and $126 may cushion price declines. A drop below $94 carries the risk of a more significant price drop.
Key Support Zones for Solana
Solana’s price shows clear accumulation zones that serve as potential support levels. A particularly high concentration of SOL tokens is observed at $112.10, where approximately 9.7 million SOL are held, representing 1.67% of the total supply. In January 2025, around 4 million SOL were already at this price level, indicating long-term investors.
Additional support areas are found at $94, $97, and $100. These zones collectively contain about 21 million SOL (3.5% of the circulating supply). If the price falls below these levels, strong selling pressure could emerge, as liquidity below $94 is minimal. A notable supply concentration is only seen again at $56.
Resistance and Selling Pressure
On the resistance side, strong supply zones are located at $135 and $144. Around 26.6 million SOL are held at $135, while approximately 27 million SOL are stored at $144. Together, these areas account for nearly 5% of the total supply.
Many investors may attempt to sell their holdings at these levels, especially if they previously entered at these prices. Additional resistance levels are seen at $123 and $126, where 16.2 million SOL (2.7% of the supply) and 19 million SOL (3.2% of the supply) are held, respectively. These zones could act as short-term price barriers.
How Could the SOL Price Develop?
Solana’s current price movement reflects a battle between buyers and sellers at the mentioned support and resistance zones. If demand stabilizes at the support levels, SOL could make another attempt to break through the resistance at $135 to $144.
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However, a drop below $94 could lead to increased selling pressure and push the price further down. Traders should closely monitor trading volume and liquidity areas to identify potential price movements early.
Our Assessment
Solana is at a critical juncture that will determine its future price direction. Support zones at $112 and $126 could provide stability, while resistance at $135 and $144 may limit price increases. A sustained drop below $94 would be a warning signal for further losses. Investors should closely follow market movements and adjust their strategies accordingly.
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