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Solana’s Cost Basis Shifts Sharply: $129 Emerges as a Key Pivot Zone
- Solana (SOL) has seen a significant shift in its cost basis, with a major supply cluster forming at the $129.79 level, holding over 32 million SOL.
- This new cost basis cluster at $129 signals a crucial level in Solana’s current market structure, likely acting as a key pivot point for future price movements.
- Investor activity around the $129 zone has increased, making it a possible strong support level during price pullbacks, with potential for solid rebounds.
- A trading range for SOL is emerging, with significant concentrations at $129.79, $144.15, and potential support around $140.09, shaping short-term price dynamics.
- URPD data reveals where support and resistance levels lie, offering valuable insights into investor behavior and market sentiment on-chain in real time.
- The 129 zone, if held, could indicate optimism among investors, while breaking this level may shift focus to potential new support at $117.
- With resistance at $144, further upward movement for SOL may depend on fresh capital influx or macro conditions improving to overcome this level.
- Monitoring URPD data is crucial to understanding dynamic market sentiment and how basis clusters play a defining role in Solana's price movements.
- Solana remains a key player in the crypto market conversation, with its shifting URPD landscape reflecting evolving investor sentiment and market dynamics.
- As the market continues to evolve and costs remain unpredictable, basis clusters will be instrumental in shaping Solana's future price actions.
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