Saad Ullah
Solana has traders buzzing again as fresh on-chain analysis reveals a crucial support zone that might just be the launchpad for its next big rally. Heavy buying activity at specific price levels has created what looks like a perfect setup for continued upward momentum.
SOL's Support Zone Looks Like a Fortress
Popular analyst @ali_charts has highlighted something interesting in Solana's price data. The blockchain shows massive accumulation happening between $188 and $206 – we're talking about millions of SOL tokens changing hands at these exact levels.
Here's what the numbers tell us: around 25.3 million SOL tokens were scooped up at $188.79, while another 11.1 million found new homes near $206.49. This kind of heavy buying typically comes from serious investors who plan to hold for the long haul, creating what traders call a "wall of support."
Minimal Resistance Above $206 – The Path Looks Clear
Here's where it gets really interesting. When you look at Solana's UTXO Realized Price Distribution data, there's barely any resistance above $206. Think of it this way – while most cryptocurrencies face waves of sellers at higher prices, Solana's chart looks surprisingly clean above this zone.
This could mean that once SOL breaks convincingly above $206, we might see a rapid move higher. Traders are already eyeing potential targets around $220, $250, and even beyond if momentum really picks up.
Right now, Solana is sitting pretty within its support zone, making it stand out among major altcoins. When you add in Solana's growing ecosystem – more DeFi projects, active NFT markets, and increasing institutional interest – both the technical and fundamental pictures look aligned.
Saad Ullah
