- On-chain data shows a sharp drop in realized support below $144, with limited historical demand until the $24 zone.
- Solana trades at $142.26 after an 8.7% daily decline, while its nearest support sits narrowly at $140.64.
- The 24-hour range between $140.64 and $156.60 highlights a tight trading band, emphasizing the importance of activity near current levels.
Solana’s recent price movement continues to draw attention after new on-chain data revealed a significant gap in realized support below the $144 level. The data shows that demand thins out quickly under this zone, leaving a wide area with minimal buyer history down to $24. This gap has emerged at a moment when Solana trades at $142.26, which reflects an 8.7 percent decline over the past 24 hours.
These conditions place the asset near a critical point, especially as the market evaluates the strength of its remaining support. The data also highlights the asset’s position against Bitcoin at 0.001462 BTC, which shows a 2.8 percent change within the same period. This context sets the stage for the next analytical breakdown.
On-Chain Distribution Shows Sparse Support Below the $144 Range
Glassnode’s UTXO Realized Price Distribution chart displays a clear concentration of realized volume above $140. Notably, activity falls sharply once the price moves under that threshold. The chart shows several clusters near the upper range, yet very few data points appear between $144 and $24. This pattern indicates limited historical accumulation in that wide area. Because prior accumulation remains light, realized support appears thin and uneven across the lower region.
However, the current support level at $140.64 remains close to active price action. This creates a narrow buffer between the ongoing decline and the next area with meaningful historical positioning. The 24-hour range also reinforces the tight band, with price action staying between $140.64 and the resistance level of $156.60. This structure provides a clear frame for understanding immediate market behavior.
Market Structure Centers Around a Narrow Support Band
The present data points show heavy interaction around the upper bands of the realized distribution. This suggests that most recent activity concentrated within higher regions. Therefore, price movements continue to align with areas that show stronger participation. As a result, the narrow zone near current levels becomes increasingly important.
Furthermore, the closeness between the current price and nearby support keeps attention on short-term reactions . Each movement near this area connects directly to the underlying on-chain structure. This connection gives the price action a more defined context within its 24-hour decline.
Trend Monitoring Gains Importance as Price Approaches Key Levels
The structure also directs market observers toward upcoming reactions within the $140 range. The data shows a clear layout of realized values, which places emphasis on how price interacts with clusters above support. Additionally, the wide gap below the current region highlights the absence of dense buyer history.
This brings focus to near-term developments, since each movement inside the current range aligns with the distribution shown on-chain. The ongoing shifts therefore remain tied closely to the figures presented in the recent dataset.
