Solana Faces Major Support Gap as Analysts Warn of Potential Drop to $24

Solana (SOL) is once again under the spotlight as market analysts warn of a significant structural weakness in the asset’s on-chain support levels. According to fresh blockchain data, Solana may have no meaningful support between its current trading zone and the $24 region — a gap that could expose the cryptocurrency to deeper downside risk if selling pressure accelerates.

This finding comes at a time when broader market sentiment remains shaky, with Bitcoin sliding below crucial thresholds and traders becoming more cautious. As Solana slips under its final strong support cluster, analysts say the asset could be vulnerable unless buyers return aggressively.

On-Chain Data Reveals a Concerning “Air Gap” Below $144

Analyst Ali Martinez highlighted new data from Glassnode’s UTXO Realized Price Distribution (URPD), showing where Solana holders accumulated their tokens across different price levels. URPD is a key on-chain metric that reveals how much supply was last purchased at each price range — essentially showing where major support or resistance may form.

According to Martinez, Solana’s largest accumulation zones are all above the $144 price level. Below $144, the chart shows thin clusters of buying activity, indicating that far fewer investors have their cost basis in the lower price bands.

This creates what the analyst refers to as a supply “air gap” — a wide stretch on the chart with little to no historical demand. As Martinez notes, “There’s barely any meaningful demand until $24.”

In other words, if Solana continues falling and fails to reclaim $144, the next dense support zone does not appear until dramatically lower levels.

Why URPD Matters for Predicting Market Behavior

URPD matters because investor behavior tends to be strongly influenced by their cost basis. When the market retests a price range where many investors bought in, two reactions can happen:

• Retest from above: Holders may buy more, treating it as a dip — creating support.

• Retest from below: Holders may sell at breakeven to avoid further losses — creating resistance.

Since few holders accumulated SOL between $144 and $24, the chart does not show natural cushions of demand that might help stabilize price during heavy volatility.

With Solana now trading below $144, this lack of historical demand increases the possibility of sharper, faster selloffs if market conditions worsen.

Solana Already Slippping Past the Final Major Support Zone

Solana recently dipped below the key $144 level, a zone that previously served as its last strong cluster of on-chain support. With that level now lost, the asset is navigating an uncharted zone with limited historical accumulation.

This raises important questions:

• Will bulls step in to defend current levels?

• Can demand rebuild before a deeper drop?

• Or will SOL continue falling until it reaches the next significant cost-basis cluster around $24?

Market analysts caution that the coming days will be critical in determining whether Solana stabilizes or enters a prolonged correction.

Bitcoin’s URPD Paints a Very Different Picture

Interestingly, Bitcoin’s supply distribution chart shows a far more balanced spread of investor demand across price levels. Martinez also shared Bitcoin’s URPD data, revealing dense support clusters at key regions including:

• $82,000

• $67,000

This suggests that while Bitcoin still faces downside risk amid the current correction, it benefits from stronger, more evenly distributed investor demand on the way down. This provides BTC a better structural foundation compared to Solana’s steep support gap.

Market Sentiment Weakens as Risk Assets Decline

Solana’s on-chain weakness comes in the middle of a broader shift toward fear across the crypto market. Bitcoin recently fell below $98,000 — its lowest level since spring — amid rising selling pressure from long-term holders and reduced liquidity.

This cautious environment could exacerbate Solana’s vulnerability, as risk assets with thinner support zones tend to fall more dramatically during periods of market stress.

What Comes Next for Solana?

While the URPD data does not guarantee Solana will decline to $24, it does signal that the path downward is structurally weak unless new demand emerges.

For now, the key questions revolve around:

• Whether bulls can reclaim the $144 level

• How deep-pocketed investors respond to the ongoing correction

• Whether the broader market stabilizes or continues trending downward

If Solana fails to regain momentum soon, its on-chain structure suggests volatility may increase — and the risks of deeper declines remain in play.