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Lunam Points
The Solana (soil) was busy behind the scenes. However, while the graphics can be calm on the surface, a more in -depth examination has revealed more than what meets the eye. With the stack of food and the tightening of the beach, the scene could be defined for something interesting.
UTXO has produced price distribution cards (URPD) where current owned holders show a cost base through the offer. It is a useful lens in the behavior of investors, highlighting price levels with concentrated capital which can act as support or resistance.
The latest data revealed a clear change – more than 32 million soil, more than 5% of the total offer, is now grouped around $ 129.79. This makes it the largest accumulation area to date.
Source: Glassnode
The point to take? Investors consider this level more and more as a “fair value”, signaling a stronger conviction and making $ 129.79 a key support.
Solana compressed in a defined beach, marked by a support at $ 117 and resistance at $ 144. At the time of writing the editorial staff, the key pivot was at $ 129.79. It seemed to be the largest supply group, where the interest of investors was the most concentrated.
Source: tradingView
The price action has tightened below this level, showing hesitation to break. Meanwhile, the RSI hovered areas near neutrals, and the OBR was flattened, indicating a lack of strong conviction in both directions.
This rolled structure seemed to refer to an accumulation before an escape. Whatever soil moves by it could determine the short -term trend direction – with $ 129.79 potentially acting as a war zone.
Large supply clusters often evolve in critical support or resistance areas due to investor psychology. When many holders share a similar cost base – such as the level of $ 129.79 for soil – they are more likely to defend this position during declines, which reduces the sale pressure.
Historically, such areas have acted like turning point, either stopping or rally decrees. The higher the volume at a price, the greater the conviction among the participants. In the case of soil, the concentration of the offer at $ 129.79 means that it is an anchor of “fair value” – a level where buyers can intervene, which makes it important to look at.
post url: https://altcoin.observer/the-level-of-129-of-solana-this-is-why-investors-look-at-this-level/