• Over 32M SOL now sits around $129.79, turning it into a key support zone
• SOL has been consolidating within $117-$144, with a compression suggesting that a breakout could be near

Solana’s [SOL] been busy behind the scenes. However, while the charts may look calm on the surface, a closer look revealed more than what meets the eye. With supply stacking up and the range tightening, the stage might just be set for something interesting.

A new stronghold…

UTXO realized price distribution (URPD) maps where current holders bought in shows cost basis across the supply. It’s a useful lens into investor behavior, highlighting price levels with concentrated capital that may act as support or resistance.

The latest data revealed a clear shift – Over 32 million SOL, more than 5% of total supply, is now clustered around $129.79. This makes it the largest accumulation zone to date.

The takeaway? Investors have been increasingly viewing this level as “fair value,” signaling stronger conviction and making $129.79 a key support.

Solana in a tightening range

Solana has been compressing within a defined range, marked by support at $117 and resistance at $144. At the time of writing, the key pivot lay at $129.79. This seemed to be the largest supply cluster, where investor interest has been most concentrated.

The price action tightened below this level, showing hesitation to break higher. Meanwhile, the RSI was hovering near neutral zones, and the OBV was flattening, indicating a lack of strong conviction in either direction.

This coiled structure seemed to allude to a buildup before a breakout. Whichever way SOL moves from here could determine short-term trend direction – with $129.79 potentially acting as a warzone.

Why this cluster matters

Large supply clusters often evolve into critical support or resistance zones due to investor psychology. When many holders share a similar cost basis – like the $129.79 level for SOL – they’re more likely to defend that position during pullbacks, reducing selling pressure.

Historically, such zones have acted as turning points, either halting declines or capping rallies. The deeper the volume at a price, the stronger the conviction among participants. In SOL’s case, the concentration of supply at $129.79 means it’s a “fair value” anchor – A level where buyers may step in, making it important to watch.