Altcoins News

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

By James Thorp

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On-Chain Data Reveals a Concerning “Air Gap” Below $144. Analyst Ali Martinez highlighted new data from Glassnode’s UTXO Realized Price Distribution…

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Why URPD Matters for Predicting Market Behavior. URPD matters because investor behavior tends to be strongly influenced by their cost basis.

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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…

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Bitcoin’s URPD Paints a Very Different Picture. Interestingly, Bitcoin’s supply distribution chart shows a far more balanced spread of investor…

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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…

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What Comes Next for Solana?. While the URPD data does not guarantee Solana will decline to $24, it does signal that the path…

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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.

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This finding comes at a time when broader market sentiment remains shaky, with Bitcoin sliding below crucial thresholds and traders becoming more cautious.

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Analyst Ali Martinez highlighted new data from Glassnode’s UTXO Realized Price Distribution (URPD), showing where Solana holders accumulated their tokens across different price…

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According to Martinez, Solana's largest accumulation zones are all above the $144 price level.

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This creates what the analyst refers to as a supply “air gap” — a wide stretch on the chart with little to no historical demand.

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

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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…

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

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

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