Solana is trading near its most important support band, with the $65 to $71 range now acting as the key line for its mid-term structure. On-chain data cited in the report shows that more than 60 million SOL last changed hands in this zone, giving it the densest concentration of investor cost basis on the chart.
On-chain cost clusters put focus on the $65 to $71 band
The article points to URPD, or UTXO Realized Price Distribution, as the framework behind this view. The model tracks where coins were last moved on-chain, helping identify price areas where many holders share similar entry levels. Those clusters often become major support or resistance zones. For Solana, the $65 to $71 region stands out as the strongest current support.
As long as SOL stays above that demand area, the broader bullish structure remains in place. A clear move below $65, though, would weaken the technical picture and shift attention toward $53.10 as the first downside target. If selling pressure keeps building, lower on-chain accumulation zones could come back into view.
$53.10, $23.60 and $8.85 remain historical demand zones
Below the main support band, the report identifies roughly 7 million SOL traded near $53.10, making it the next notable accumulation area. Farther down, about 5 million SOL are concentrated around $23.60. An older cluster of roughly 15 million SOL appears near $8.85. These levels sit well below the current market price, but they remain relevant because of the trading activity previously recorded there.
For the near term, price action still revolves around one zone. If $65 to $71 holds, buyers keep their main defensive area. If it breaks, the correction could deepen quickly.
Lost trendline brings the $40 area into view
The report also notes that Solana recently moved below its long-term ascending trendline, the same line that had guided the asset higher since 2023. SOL is now trading near $71 and has not yet recovered that former trajectory. That break has raised concerns that upside momentum has faded.
Market analyst KALEO said continued weakness could send SOL toward $40 as the next major downside objective. According to that view, price may test the upper $30s and the $40 region before building a firmer bottom. The same zone also matches an earlier consolidation period from late 2023 to early 2024, which gives it added technical importance as a possible future support area.
For now, Solana still trades above those deeper risk levels. The immediate question is whether the market can defend $65 to $71. If not, attention is likely to shift toward $53.10 first, and then the $40 area.