Solana Declines 13% as Price Tests Key Support at $145 to $147

Solana has declined by approximately 13% over the past week, approaching key on-chain support levels. The primary support zone is between $145 and $147, where 13 million SOL were last purchased.

Key Points

The $155 to $157 range holds about 31 million tokens, while the $164 to $166 range has 29 million tokens.
Investors typically react to retests of their cost basis, with potential buying interest if retesting from above.
Panic selling may occur when retesting from below due to underwater positions.
Current price is around $145, with a focus on potential resistance at $155 to $157 if a rebound occurs.

For further details on Solana's performance, refer to the Cost Basis Distribution data shared by Glassnode.