While Solana (soil) may seem calm on the surface, crypto analysts and traders monitor very closely a particular figure: $ 129.79. This price level has discreetly become a crucial support area – a threshold that could determine the next short -term floor direction.
Why the level of $ 129 is more important than ever
According to recent on-chain data, more than 32 million ground tokens-about 5 % of the supply in circulation-were bought around the price level of $ 129.79. This makes it the largest area of accumulation in Solana’s history.
This observation comes from the metric UTXO Realized Price Distribution (URPD), which maps the purchase price of current holders. Clearly, URPD data highlight where capital is the most concentrated, and give clues to the potential areas of support or resistance.
What does this mean for traders and investors? When a large number of buyers are positioned around the same price, this level often becomes a strong psychological and technical support. Many investors consider it their “fair value” area and will try to defend it during the drop. This behavior reduces selling pressure and increases the probability of a rebound from this level.
Solana’s price is tightened in a narrow range
From a broader perspective, Solana evolves laterally in a relatively narrow range – between $ 117 and $ 144. Currently, the price is just below the critical level of the $ 129.79, showing signs of tight consolidation.
Technical indicators reflect this indecision:
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The relative Strength Index (RSI) oscillates around the neutral, which indicates that no clear momentum – bullish or lower – dominates.
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The on-balance volume (OBV), which follows the purchase and sale pressure, is stable-a sign of a lack of strong steering.
In other words, Solana seems to be in a compression scheme. This type of configuration often precedes a movement of rupture, but the management remains uncertain. The closer to the $ 129, the more likely this level becomes a key to a key tip.
Psychology behind accumulation clusters
When a large quantity of tokens is concentrated around a specific price, it often becomes an autorerizing prophecy. Investors who have entered this level treat it as a psychological anchor point: they hesitate to sell at a loss and are quick to buy if the price comes back to their entry point.
Result: $ 129.79 could become a decisive area. If the price falls below, this level could be transformed into resistance, and soil could go down to its next support close to $ 117. Conversely, a maintenance above this threshold, accompanied by a revival of momentum, could allow Solana to test the resistance of $ 144-or even cross it.
Behind the scenes: why Solana remains relevant
Beyond the graphics, Solana remains one of the most active Layer-1 blockchains, both in development and in user activity and growing its ecosystem. Its high speed and very low costs make it a network of choice for DAPPS, NFTS and Defi projects.
The current consolidation phase may seem boring, but these calm periods often precede major movements. If a bullish breakup occurs, it could again attract the attention of investors and lead to incoming capital flows.
So then?
For the moment, all eyes are turned around $ 129.79. It’s not just another figure – it is a battlefield between investors’ conviction, technical structure and psychological support. A net movement above or below this level could define the Solana trend for the coming weeks.
If buyers continue to consider $ 129 as a fair value, it could serve as a basis for the next increase. Otherwise, a downward break could point out a wider correction – or at least, an extended period of stagnation.
Anyway, Solana is at a pivotal moment. And as any trader would say: the compression phases never last forever.
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