Solana (SOL) entered a $70-$50 accumulation zone after a sharp decline from higher levels. The cryptocurrency dropped below $77, prompting analysts to identify lower support areas based on on-chain data. Analyst Crypto Patel describes the $70-$50 range as a long-term accumulation zone, while UTXO Realized Price Distribution (URPD) data from Ali Charts points to $53.10, $35.40, and $23.60 as the next major support zones if selling pressure continues. The decline follows an extended drop from previous highs, with the current correction potentially attracting long-term investors according to technical analysis focused on historical demand zones.
Crypto Patel Identifies $70-$50 as Long-Term Accumulation Zone
Crypto Patel describes the $70-$50 range as a long-term accumulation zone for Solana. The analyst's chart highlights this broad buying area as a region where the current correction could begin attracting long-term investors. SOL moved into this zone after an extended decline from previous highs.
The analysis focuses on a support range that has historically attracted buying interest during periods of market weakness. Crypto Patel stated the analyst is gradually accumulating spot positions rather than attempting to time an exact market bottom. This approach is based on a multi-year outlook rather than short-term price movements, with the accumulation area spanning from $70 down to $50.
From a technical perspective, the highlighted range represents a major demand zone where buyers could begin absorbing selling pressure. The long-term thesis presented in the chart remains focused on future recovery potential rather than immediate price action. According to the analysis, the accumulation strategy is tied to a broader outlook that anticipates a potential return toward substantially higher levels if Solana enters another major growth cycle.
URPD Data Highlights $53, $35, and $24 Support Zones
SOL fell below the $77 level, prompting Ali Charts to analyze lower price areas using the UTXO Realized Price Distribution (URPD) model. The URPD chart shows where large amounts of SOL last moved on-chain, creating clusters of realized prices that often act as important support or resistance areas.
The largest concentration of activity appears near $82.60, a level that now sits above the market after SOL dropped below $77. According to the URPD data, the next major cluster is located around $53.10. This level represents one of the largest realized supply concentrations below current price levels.
Additional support zones appear near $35.40 and $23.60. These regions contain notable concentrations of previously transacted SOL. The chart also highlights several smaller realized supply clusters between these major zones. However, the strongest areas of historical on-chain activity remain concentrated around $53, $35, and $24.
FAQ
What price zone did Solana enter after its recent decline?
Solana entered a $70-$50 accumulation zone after a sharp decline from higher levels. Analyst Crypto Patel describes this range as a long-term accumulation zone where the current correction could begin attracting long-term investors.
What are the next major support levels for SOL according to on-chain data?
According to URPD data from Ali Charts, the next major support zones are located at $53.10, $35.40, and $23.60. These levels represent areas where large amounts of SOL previously moved on-chain, creating clusters of realized prices that could act as support if selling pressure continues.
