Solana’s Key Support Lies at $65-$71; Break Could Open Drop to $53
Summary
- Ali Martinez said Solana (SOL) has built a strong support base in the $65-$71 range, keeping its uptrend intact.
- He said about 60 million SOL traded in the $65-$71 range, making it the strongest support zone at present.
- He added that if $65 gives way, $53.10 could become the next major support zone, followed by $23.60 and $8.85 if losses deepen.
Forecast Trend Report by Period
Solana has built a strong support base in the $65 to $71 range, and the token’s uptrend remains intact as long as that zone holds, according to an analysis.
Crypto analyst Ali Martinez wrote on June 28, citing UTXO Realized Price Distribution, or URPD, data, that about 60 million SOL traded between $65 and $71, making that the strongest support zone at present.
URPD is an on-chain metric that shows the price levels at which coins currently in circulation last moved. The greater the concentration of supply in a given range, the more likely that band is to act as support or resistance.
As long as this demand zone holds, Solana’s bullish structure will remain intact, Martinez said. A break below $65, however, would put the next key support at $53.10.
Based on URPD data, about 7 million SOL traded around $53.10. If the decline extends, the next major support levels are $23.60, where about 5 million SOL traded, and $8.85, where about 15 million SOL traded.
