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Solana’s price is about 4.2% today, but the bigger picture still looks weak. The token is down about 22% in the last month, and recent data on the chain shows that long-term holders do not support a rebound.
Main points of the article
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Solana holder set for 1-2 years He had been running down his supplies for the entire month. HODL Waves tracks the amount of supplies held by different age groups, which helps determine which coin holders add or reduce their coins. Solana’s 1-2 year old age group held 19.28% supplies on October 20. By November 19, this number had dropped to 17.24%.
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Main points of the article
The second problem appears in the display directly above the current price. The Base Cost heatmap shows where wallets last purchased their tokens. These rallies often act as resistance because asset holders who bought at those levels tend to sell when the price goes back there, especially in a weak market.
Now there are two strong groups between $140 and $142. The first zone between $140.39 and $141.31 contains about 16.3 million soles at the base cost. The second zone, between 141.31 and 142.24, contains about 16.9 million suns.
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These areas are found in abundance, and the price is always close to them. To keep the price down Solana growingIt needs a clear day above $143, which is directly above both groups.
Without this closure, the bounce loses its strength because the cross pressure is still active. And a weak EMA structure near clusters with heavy supply is not helping price action. It adds more weight to the pessimism among long-term holders.
All eyes are on these Solana price levels
A daily close above $143 is the first sign that the rally could continue. If the price settles above, Solana could expand towards $146, and then towards $167, a level that Solana has not been able to overcome since November 4. Breaking above $167 will start to moderate the larger trend and open the door for a move towards $189 and $205.
But if Solana closes below $143 again, the bounce will likely fade and the recent move becomes a range break. Losing $128 will confirm the weakness and allow a deeper slide.
currently, Solana tries to recoverBut the long-term holders are still trimming their exposure, a bearish EMA crossover is approaching, and the price is pressing one of its supply-heavy clusters.
These factors explain why long-term holders have yet to buy Solana’s price reversal theory. A clear daily close above $143 is the first sign that the bounce has real strength. Without it, the reversal story remains weak, and long-term holders will likely remain cautious.
