Solana is trading near a critical support zone at $65-$71, where over 60 million SOL last moved on-chain, creating a historically strong demand area. According to on-chain data from Glassnode via Ali Charts, this cluster is a key level for bulls to defend. However, momentum has weakened, and a failure to hold this range could trigger a deeper sell-off.
The UTXO Realized Price Distribution (URPD) chart shows that if the $65-$71 zone breaks, the next major support sits at $53.10, where around 7 million SOL changed hands. Further below, levels at $23.60 (5 million SOL) and $8.85 (15 million SOL) mark prior on-chain activity zones. While these are far lower, they illustrate where demand previously emerged.
A separate technical analysis by Kaleo highlights that SOL has lost its long-term rising trendline from 2023 to 2026 and is now trending downward. The chart points to a downside target near $40, a region that aligns with a consolidation zone from early 2024. If SOL fails to reclaim the broken trendline, a drop into the $40 area remains likely, with a potential wick into the high $30s before any significant bounce.
