Solana Price Could Get Stuck Here: Glassnode Said the Rise Won't Stop If Overcome!

As Solana ($SOL ) approaches its next significant resistance level, over 8 million SOL is accumulated by investors at this point, and if surpassed, the upward momentum could accelerate.

In its latest report examining the price movements of Solana (SOL), Glassnode highlighted the critical resistance level. According to Glassnode's "Cost Basis Distribution" data, the next challenging price level for SOL is around $190. The accumulation of investors at this point has the potential to create strong resistance in the price.

According to the shared data, it is observed that investors have accumulated over 8 million SOL in the range of $189-$190. This intense supply zone could temporarily halt the rise of SOL's price. However, Glassnode analysts emphasized that if this resistance is overcome, the supply density would significantly decrease, and the price could gain upward momentum.

If the resistance is broken, SOL's rise could accelerate!

According to the Glassnode report, if the Solana price surpasses the $190 resistance level, significant movement upwards could occur. Because the amount of SOL accumulated by investors above this level decreases markedly. This means that the selling pressure in front of the price will diminish, and the upward trend will strengthen.

Recently rising Solana is closely monitored by investors to see if it can surpass the critical resistance level. If SOL can leave the $190 level behind, it may experience a fast and strong rise. However, otherwise, the price could enter a consolidation phase in this region. Experts urge investors to watch these levels carefully.