Last week, Solana It maintained a remarkable bullish performance, increasing by more than 20 % after a recent decrease to the support zone of $ 100 on April 9. While Sol regained its upward direction, the main measures show a major field of price dynamics for a large number of investors.
A huge URPD supply group amid the fluctuation of Solana prices
Glassnode, a pioneering series on the series and a financial platform, has set a decisive transformation in the dynamics of Solana prices as she tries to overcome the decisive resistance areas. In the last joint analysis of X, Glassnode It indicates Many price areas are vital to the future performance of Altcoin.
After going into the price distribution index of UTXO (URPD), the statute reveals that Sol has formed the largest supply group in modern history. This remarkable accumulation of Sol, which is controlled by the investor around a specific price point, is determined by a major interest area that may serve as decisive support or The resistance area.
According to Glassnode, URPD from Sol explains that the basis of cost may have changed significantly in the last two days with the appearance of the largest supply set. Looking at the data, the huge supply group occurred at the level of $ 129.79, where investors accumulated more than 32 million sully, which represents 5 % of the total supply in Altcoin.
With the market participants focus greatly in this range, Solana may approach a pivotal moment as the price trend can be determined by the dominance of buyers or sellers on the direction. During the decline in the future, this region may be a support, which reflects strong Investor activity At the price level.
The second largest supply range is located in $ 144.54. At this level, investors bought more than 27.5 million Sol, which represents a great obstacle to high prices and can also be strong support if it is altcoin It exceeds the level.
Less than $ 129, Glassnode noticed that the next support for Solana is $ 117.99, with $ 18 million TellerOr 3 % of the total offer, obtained by investors. Thanks to $ 129 as a decisive pivotal zone, $ 144 may serve as a short -term resistance and $ 117 as boundaries below the price range.
Sol display capabilities to higher levels
Although Soul price You face fluctuations, it may now be the time to buy DIP as Altcoin is preparing for upward leadership. Ali Martinez, analyst and encryption dealers, Expected Solana is about to recover strong.
Martinez’s expectations on the TD Serial Serial Series rely on the weekly chart. TD serial purchase sign is an indicator on The growing momentumThis means that the current correction can approach its end.
This is the second time in one week where the indicator flashing a purchase signal in the weekly timetable despite the performance of the delusional prices. during The first signMartinez indicated that Sol should keep its position over $ 95 and penetrate 121 dollars to restrict the phase of the complex to the price of $ 147.
Distinctive image from Adobe Stock, Chart from TradingView.com
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The post Solana Eyes Market Shift: Key URPD Indicator Forms The Largest Supply Cluster first appeared on Investorempires.com.
