The price of Solana (SOL) is approaching the next significant resistance level, with over 8 million SOL accumulated by investors at this point, which could accelerate the upward momentum if broken.
In its latest report examining the price movements of Solana (SOL), Glassnode revealed the critical resistance level. According to the "Cost Basis Distribution" data presented by Glassnode, the next challenging price level for SOL is around 190 dollars. The accumulation of investors here has the potential to create strong resistance in the price.
According to the shared data, it is observed that investors have accumulated a total of over 8 million SOL in the 189-190 dollar range. This intense supply zone could temporarily halt the rise of the SOL price. However, Glassnode analysts emphasized that if this resistance is broken, the supply intensity would significantly decrease, and the price could gain upward momentum.
If the resistance is broken, the rise of SOL may accelerate!
According to the Glassnode report, if the price of Solana surpasses the 190 dollar resistance level, significant activity may occur upwards. This is because the amount of SOL accumulated by investors above this level decreases significantly. This indicates a reduction in selling pressure in front of the price and strengthens the upward trend.
Recently rising Solana is being closely monitored by investors to see if it can surpass the critical resistance level. If SOL can leave the 190 dollar level behind, it may experience a rapid and strong rise. However, otherwise, the price may enter a consolidation phase in this region. Experts are calling on investors to watch these levels carefully.
